Selected balance sheet information and the income statement for Pioneer Industries for the current year are...

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Selected balance sheet information and the income statement for Pioneer Industries for the current year are Selected Balance Sheet Accounts Prior Year Accounts Receivable Current Year $21,300 $14,500 Inventories 29,000 Prepaid Rent 31,900 1,900 0 Accounts Payable 16,400 21,200 Salaries and Wages Payable 3,800 5,700 Income Statement Sales Revenue $435,000 Expenses: Cost of Goods Sold 252,000 Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income 29,000 43,500 17,400 17,400 15,950 14,500 $ 45,250 Selected balance sheet information and the income statement for Pioneer Industries for the current year are Selected Balance Sheet Accounts Prior Year Accounts Receivable Current Year $21,300 $14,500 Inventories 29,000 Prepaid Rent 31,900 1,900 0 Accounts Payable 16,400 21,200 Salaries and Wages Payable 3,800 5,700 Income Statement Sales Revenue $435,000 Expenses: Cost of Goods Sold 252,000 Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income 29,000 43,500 17,400 17,400 15,950 14,500 $ 45,250

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Answer To analyze the financial information provided we can calculate the current years accounts rec... View the full answer