2:31

Expert Q&A

Done

the following balances in the company ledgers for the year ending

December 31:

Mortgage Payable

Prepaid Insurance

Short-term investments

Common Shares

Cash

Advertising

Accounts Receivable

Sales revenue

Accounts Payable

Buildings (Net)

Cost of Goods Sold

$71,900

Interest Expense

$5,500

Land

$800

Office salaries

$14.700

Sales Salaries

$4,100

Supplies expense

$49,800

insurance expense

$14.900

Depreciation expense

$597.700

Income tax expense

$8.400

Dividend Pavments

$101.000

Interest Income

$298,100

Inventorv

Note Payable (due in 9 months)

$11,600

Retained Earnings (Beg Bal-Jan 1)

$44,300

$10.200

$21,400

$66,000

$99.000

$15,500

$12,400

$19.700

$14,700

$10,000

$16.900

$22.400

using the information above, prepare the statement of income

the following balances in the company ledgers for the year ending

December 31:

using the information above, prepare the statement of income