111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 h. for the First Sales revenue Less: Cost of goods sold Gross margin Selling and administrative expenses. Sales salaries Sales commissions Advertising and promotion Administrative salaries Depreciation Interest on bonds Interest on short-term bank loan Property taxes Total selling and administrative expenses Net income Retained earnings, 12/31/x0 Add: Net income Deduct: Dividends Retained earnings, 3/31/x1 Universal Electronics Balance Sheet March 31, 20x1 Accounts payable Bond interest payable Property taxes payable Bonds payable Common stock Retained earnings 63,000 MARCHETTICLATRETTOY Universal Electronics Budgeted Statement of Retained Earnings for the First Quarter of 20x1 S Total liabilities and stockholders' equity REFERENSER AMATEUN LOOKYSLE 14,564 THUR 48,000 63,000 EXTENTERATTIOSAVE 75.000 STRI CHET CRVEDELVE 7,500 2,5