Question
Butler Corporation has provided the following information pertaining to the year ended December 31, 2020 Accounts Payable $16,700 Interest Expense $2,500 Accounts Receivable $24,000 Inventory
Butler Corporation has provided the following information pertaining to the year ended December 31, 2020
Accounts Payable $16,700
Interest Expense $2,500
Accounts Receivable $24,000
Inventory $15,200
Accumulated Depreciation
Building $31,500
Long term
Notes Payable $10,000
Advertising Expense $5,200
Prepaid Insurance $3,700
Building$125,000
Retained Earnings (1120) $36,000
Common Stock$51,200
Salaries Expense $12,250
Cash$8,000
Salaries Payable $8,100
Cost of Goods Sold$115,000
Sales Revenue$162,500
Depreciation Expense $2,700
Supplies Expense $950
Insurance Expense$1,500
THERE ARE NO INCOME TAXES Using the information from above, prepare a classified income statement for the year ended December 31, 2020 Be sure to include the heading for this financial statement.
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