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Analytics Corporation was organized on January 1, current year. At the end of the current year, the following financial data are available: Total revenues
Analytics Corporation was organized on January 1, current year. At the end of the current year, the following financial data are available: Total revenues Total expenses (excluding income taxes) $326,000 198,000 Income tax expense (all unpaid as of December 31) 44,000 Cash 77,750 Receivables from customers (all considered collectible) Merchandise inventory (by inventory count at cost) 44,000 106,100 Payables to suppliers for merchandise purchased from them (will be paid during the following year) 36,250 Common stock 63,600 No dividends were declared or paid during the first year. Required: Complete the following two statements: Complete this question by entering your answers in the tabs below. Income Statement Balance sheet Complete the following statements: ANALYTICS CORPORATION Balance Sheet Assets Cash Receivables from customers Merchandise inventory Total assets Liabilities Payables to suppliers Income taxes payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity
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