12:18 Back BUS 503.THE.1.v1.doc Total A Shardulden Equity CAN Corporation Income Statement January 1-December 31, 2018 Revenues Sales 50,000 Other Revenues 7 Total Revenues 60,000 Expenses Cost of Goods Sold 20,000 Salaries and Wages 16,000 Marketing Expenses 2,000 Administrative Expenses 3,000 Interest Expenses 4,000 Depreciation Expenses 8,000 Total Expenses 53,000 Pre-tax income 7,000 Income Tax Expense 1,000 Net Income Answer the questions from number 20 to number 25 using the financial statements of CAN Corporation from the previous page. 20. What is the value of the Total Long Term Assets? a) 124,000 b) 120,000 c) 116,000 d) 64,000 c) 180,000 21. What is the value of the Total Assets? a) 124,000 b) 120,000 c) 116,000 d) 64,000 e) 180,000 22. What is the value of the Accounts Payable account? a) 10,000 b) 70,000 c) 60,000 d) 110,000c) 180,000 11. What is the value of the Total Liabilities and Shareholders' Equity? a) 10,000 b) 70,000 c) 60,000 d) 110,000 e) 180,000 24. What is the value of the Other Revenues account? a) 10,000 b) 50,000 c) 60,000 d) 110,000 c) 180,000 15. What is the value of the Net Income? a) 10,000 b) 6,000 c) 60,000 d) 110,000 e) 180,000 12:18