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4. Prepare a balance sheet for Warner company from the following scrambled list of items: Depreciaton expense $66,000 Cash 225,000 Long-term debt 334,000 Sales 573,000
4. Prepare a balance sheet for Warner company from the following scrambled list of items: Depreciaton expense $66,000 Cash 225,000 Long-term debt 334,000 Sales 573,000 Account payable 102,000 General and Administrative expense 79,000 Buiding and equipment 895,000 Notes payable 75,000 Account receiveable 167,500 Interest expense 4,750 Accrued expenses 7,900 Common stock 289,000 Costs of good sold 297,000 Inventory 99,300 Taxes 50,500 Accumulated depreciation 263,000 Taxes payable 53,000 Retained eamings 262,900 a. Prepare an income statement for the Warner Company. b. Prepare a balance sheet for the Warner Company. c. What can you say about the financial condition based on these financial statements
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