Listed here are items taken from the income statement and balance sheet of Bargain Electronics, Inc. for the year ended December 31, 2025. Certain items have been combined for simplification. (Amounts are given in thousands.)

Instructions 

Prepare an income statement and a classified balance sheet using the items listed. Do not use any item more than once.

Transcribed Image Text:

Notes payable (due in 3 years) Cash Salaries and wages expense Common stock Accounts payable Accounts receivable Accumulated depreciation equipment Equipment Cost of goods sold Income taxes payable Interest expense Mortgage payable Retained earnings (December 31, 2025) Inventory Sales revenue Debt investments (short-term) Income tax expense Goodwill Notes payable (due in 6 months) $ 50.5 141.1 2,933.6 454.9 922.2 723.3 110.0 1,031.0 9,501.4 7.2 1.5 451.5 1,336.3 1,636.5 12,456.9 382.6 30.5 202.7 784.6