A list of accounts for Maple Inc. at December 31, 2010, follows:

Required
1. Determine cost of goods sold for 2010.
2. Determine net income for 2010.
3. Prepare a balance sheet dated December 31,2010.

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$2.359 Land $20,000 800 40,200 Retained Earnings, January 1, 2010 32,550 25,600 650 84,364 780 375 3,600 Accounts Receivable Advertising Expense Buildings and Equipment, Net Capital Stock Cash 4,510 Purchase Discounts 55,550 Purchases 50,000 590 Salaries Expense 2,300 Salaries Payable 6,000 Sales 3,200 Sales Returns 3,200 Transportation-In Income Tax Expense Income Tax Payable Interest Receivable Inventory: 100 Utilities Expense January 1, 2010 December 31, 2010 6,400 7500