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above is the trial balance for gibco inc. calculate the following 1. 2021 gross profit 2. 2021 income tax expense 3. income before tax 4.
above is the trial balance for gibco inc. calculate the following
1. 2021 gross profit
2. 2021 income tax expense
3. income before tax
4. 2021 net income
5. current assets december 31, 2021
6. non current assets december 31, 2021
7. current liabilities december 31, 2021
8. non current liabilities december 31, 2021
9. retained earnings december 31, 2021
10. total shareholders equity december 31, 2021
Gibco Inc. Balances Dec 31, 2021 Cost of Goods Sold Wages Payable Accumulated depreciation equipment Interest expense Account payable Interest payable- within a year Current portion of long term debt Revenue Wage expense Land Dividends declared Unearned revenue Cash Dividend revenue Rent expense Accounts receivable Long-term loan Prepaid rent Supplies Inventory Depreciation expense Equipment Common shares Income tax rate Supplies used Retained earnings (Jan 1, 2021) $327,000 $13,500 $4,400 $2,500 $1,900 $2,000 $12,000 $720,000 $56,000 $420,000 $7,000 $2,500 $163,440 $1,300 $24,000 $10,000 $39,000 $2,300 $18,000 $33,000 $224,000 $200,000 20% $107,000 432,000 Above is the trial balance for Gibco Inc.. Calculate the following (Do not show your work). Do not cut and paste your answers. If you do, you will receive zeroStep by Step Solution
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