Clara Dover, the owner of Dover Plumbing Sales and Service, showed the following adjusted account balances for the year ended March 31, 2023 (listed alphabetically):

Required
Prepare a classified balance sheet based on the information provided.

Analysis Component:
Dover Plumbing had total Plumbing revenue for the year ended March 31, 2022, of $86,000 and net accounts receivable at March 31, 2022, of $21,200. Calculate and compare days sales outstanding for March 31, 2022, and March 31, 2023. Round calculations to two decimal places.

Transcribed Image Text:

Accounts payable... Accounts receivable... Accumulated depreciation, tools... Accumulated depreciation, truck........... Allowance for doubtful accounts... Bad debt expense...... Cash............ Account Cash over/short expense. Clara Dover, capital......... Clara Dover, withdrawals..... Cost of goods sold.......... Depreciation expense, tools... Depreciation expense, truck.. Insurance expense... Interest expense..... Merchandise inventory..... Notes payable, due August 31, 2026... Notes payable, due February 1, 2024... Notes receivable, due December 1, 2025........ Petty cash.......... Plumbing revenue... Prepaid insurance... Prepaid rent.... Rent expense... Salaries expense.. Salaries payable.. Sales... Tools... Truck.. Unearned plumbing revenue.. Account Balance* $ 6,900 28,000 11,000 14,000 1,800 5,600 16,000 20** 248,770 72,000 103,000 2,000 5,000 7,100 250 9,000 17,000 6,000 14,000 400 121,000 3,800 6,500 23,000 118,000 3,200 124,000 82,000 67,000 9,000