-5 fx A B c D E 1 Module 5 Checkpoint #3 Name 2 Listed below is the adjusted trial balance of Peanuts Company at the end of the year, December 31. 3 DR CR 4 Cash 820 Accounts Receivable 280 6 Supplies SO 7 Prepaid Insurance 120 8 Merchandise Inventory 174 9 Equipment 1.200 10 Accum. Depr.-Equip. 400 11 Building 3,400 12 Accum. Depr.- Bldng. 700 13 Land 600 14 Accounts Payable 340 15 Salaries Payable 30 16 Interest Payable 20 17 Long-Term Notes Payable 1.100 18 Common Stock 1,300 19 Retained Earnings 2.330 Checkpoint #3 + G H F E 1,100 1,300 2,330 980 18,700 B D Long-Term Notes Payable Common Stock Retained Earnings Dividends Declared Sales Sales Returns & Allowances Sales Discounts Cost of Goods Sold Expense Selling Expenses Administrative Expenses Rent Revenue Interest Expense 940 550 10,326 3,300 2.160 70 3 80 25,010 25,010 0 1. REQUIRED: 32 A. Compute the following amounts: 33 1. Income Statement: 34 Net Sales 35 Cost of Goods Sold 17,210 Gross = Checkpoint #3 + Calculation Mode: Automatic Workbook Statistics D m A REQUIRED A. Compute the following amounts: 1. Income Statement: Net Sales 17,210 5 Cost of Goods Sold Gross -6 Gross Profit Profit Rate 37 Total Operating Expenses 38 Operating Income 39 Net Income 40 2. Schedule of Cost of Goods Sold 41 The following additional information is available: Beginning Inventory $160; Purchases $11,160; 42 Purchase Returns and Allowances $1,180; Purchase Discounts $420; and Freight-In $780. Prepare a schedule of cost of goods sold: 44 43 45 46 47 48 49 D E B A 3. Statement of Retained Earnings: Ending Retained Earnings 4. Balance Sheet: Current Assets Plant Assets -0 Total Assets 51 162 63 64 65 Current Liabilities Long-Term Liabilities Total Liabilities Total Stockholders' Equity Total Liabilities & Stockholders' Equity 66 67