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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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