Bad Debt expense Cash Practice Questions: Financial Statement Preparation Use the information below for the BOYD & STECKLEIN (BS) Company to prepare the company's financial statements for the year ended 12-31-20X9. Use good form! COMPLETE THE HEADINGS ALSO! Marketable Securities $3,000 Retained Earnings, 1-1-X9 7,000 1,000 Allowance for bad debts (9,000) 30,000 Inventory 1,500 Accounts payable 9,500 Dividends 10,000 Machinery 130,000 Taxes payable 14,000 Net Sales 80,000 COGS 28,000 Accumulated Depree.- Mach. (11,000) Accounts Receivable 26,000 Preferred Stock 80,000 Depreciation expense 6,000 Common Stock 40,000 Mortgage payable (10 years) 29,000 Prepaid insurance (6 months) 6,000 Salaries expense 6,500 Unearned Revenue(3 months) 5,500 APIC Common Stock 8,000 Land 43,000 Treasury Stock (2.000) BS Company INCOME STATEMENT BS Company RETAINED EARNINGS STATEMENT BS Company BALANCE SHEET