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Dachshund Corporation Balance Sheets - 2018 $ Cash Accounts receivable Inventory Equipment (net) Accounts payable Dividends payable Long-term note payable Capital stock, $5 par Retained earnings Dec. 31 $ 15.600 46,800 32,500 57.200 S 152.100 26.000 7.800 14.300 72.800 31.200 152.100 Jan. 1 15,600 37,700 36,400 66,300 156.000 28,600 3,900 14.300 72.800 36,400 156,000 Dachshund Corporation Income Statement For the year ended 2018 s Sales Cost of goods sold Gross profit on sales Operating expenses Onarting income 228,800 (137.540 ) 91.260 (75.868) 15.392 152,100 $ 156,000 s Dachshund Corporation Income Statement For the year ended 2018 Sales Cost of goods sold Gross profit on sales Operating expenses Operating income Interest expense and income taxes Net income S 228,800 (137,540 91.260 (75,868) 15,392 (9.100 6,292 S $ All sales were made on account Cash dividends declared during the year totaled $11.492. $0.43 $0.15 $0.11 $0.57