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begin{tabular}{|l|l|} hline Accounts & Amount hline Accounts payable & 40,000 hline Accounts receivable & 200,000 hline Accrued Expenses & 240,000 hline
\begin{tabular}{|l|l|} \hline Accounts & Amount \\ \hline Accounts payable & 40,000 \\ \hline Accounts receivable & 200,000 \\ \hline Accrued Expenses & 240,000 \\ \hline Accumulated Depreciation- Equipment & 80,000 \\ \hline Accumulated Depreciation- Furniture and Fixtures & 10,000 \\ \hline Advertising Expense & 20,000 \\ \hline Beginning Inventory, January 1 & 200,000 \\ \hline Bonds payable (due in 5 years) & 290,000 \\ \hline Cash & 120,000 \\ \hline Common stock (1,000,000 shares) & 100,000 \\ \hline Depreciation Expense & 14,000 \\ \hline Ending Inventory, December 31 & 230,000 \\ \hline Equipment & 120,000 \\ \hline Freight-In & 40,000 \\ \hline Furniture and Fixtures & 26,000 \\ \hline Income taxes & 19,000 \\ \hline Land & 150,000 \\ \hline Merchandise purchase & 400,000 \\ \hline Notes payable & 43,000 \\ \hline Notes receivable & 50,000 \\ \hline Office rent & 28,000 \\ \hline Office salaries & 70,000 \\ \hline Patent & 20,000 \\ \hline Retained earnings & 64,000 \\ \hline Salaries for salespeople & 90,000 \\ \hline Sales discount & 8,000 \\ \hline Sales returns and allowances & 12,000 \\ \hline Sales Revenue & 720,000 \\ \hline Note: The Notes payable is due on May 31, 2024 & \\ \hline \end{tabular} a) Prepare an income statement for Harvest Gold Corporation. Ensure you highlight the total cost of goods available for sales, cost of goods sold, gross profit, total operating expenses, and net income. b) Prepare a balance sheet for Harvest Gold Corporation at December 31, 2023. In particular solve for total assets, total liabilities, and total stockholders' equity
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