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A company's trial balance as of December 31, 20X32, is as follows: Account Debit (Dr) Credit (Cr) Cash $150,000 Accounts Receivable $170,000 Inventory $180,000 Prepaid
A company's trial balance as of December 31, 20X32, is as follows:
Account | Debit (Dr) | Credit (Cr) |
---|---|---|
Cash | $150,000 | |
Accounts Receivable | $170,000 | |
Inventory | $180,000 | |
Prepaid Expenses | $110,000 | |
Property, Plant & Equipment | $1,200,000 | |
Accumulated Depreciation | $210,000 | |
Accounts Payable | $230,000 | |
Notes Payable | $340,000 | |
Common Stock | $480,000 | |
Retained Earnings | $640,000 | |
Sales Revenue | $1,350,000 | |
Cost of Goods Sold | $650,000 | |
Operating Expenses | $400,000 | |
Income Tax Expense | $200,000 | |
Dividends | $150,000 |
Calculate the following:
- Gross Profit
- Total Assets
- Total Liabilities
- Total Equity
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