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2. Use the accounts below for Alpha Motors Corporation for December 31, 2022 to prepare an income statement and balance sheet. Contributed capital $1,636 Cost

2. Use the accounts below for Alpha Motors Corporation for December 31, 2022 to prepare an income statement and balance sheet.

Contributed capital $1,636 Cost of sales 13,107
Cash 839 Long-term liabilities 5,381
Accounts receivable 2,938 Other current assets 410
Other long-term assets 3,358 Other current liabilities 1,585
Other operating expenses 1,572 Other nonoperating expenses 414
Inventory 1,232 Accounts payable 2,563
Property, net 3,515 Retained earnings 1,980
Sales 16,661 Tax expense 242
Other equity (853)

Alpha Motors

Income Statement

For the Year Ended December 31, 2022

Sales
Cost of sales
Gross profit
Other operating expenses
Operating income
Other nonoperating expenses
Income before taxes
Tax expense
Net income

Alpha Motors

Balance Sheet

At December 31, 2022

Cash
Accounts receivable
Inventory
Other current assets
Current assets
Property, net
Other long-term assets
Total assets
Accounts payable
Other current liabilities
Current liabilities
Long-term liabilities
Total liabilities
Contributed capital
Retained earnings
Other equity
Total equity
Total liabilities and equity

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