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Can you please help me finish this balance sheet??!??! Problem 10-08A a1-a3 (Part Level Submission) The adjusted trial balance of Ivanhoe Company for the year

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Can you please help me finish this balance sheet??!??!

Problem 10-08A a1-a3 (Part Level Submission) The adjusted trial balance of Ivanhoe Company for the year ended December 31, 2020, is as follows. Credit Debit $37,000 29,000 13,000 45,000 $1,500 4,000 5,000 15,500 7,100 2,100 3,800 1,000 900 Cash Accounts Receivable Inventory Equipment Allowance for Doubtful Accounts Accumulated Depreciation-Equipment Notes Payable Accounts Payable Unearned Service Revenue Sales Taxes Payable Salaries and Wages Payable FICA Taxes Payable Interest Payable Bonds Payable Mortgage Notes Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Salaries and Wages Expense Depreciation Expense Rent Expense Bad Debt Expense Interest Expense Dividends Discount on Bonds Payable 11,000 12,000 20,000 17,900 197,200 115,000 40,000 10,000 7,000 1,300 600 500 600 $299,000 $299,000 The notes payable is due on January 10, 2021, and the mortgage notes payable matures in 2026. A principal payment of $2,000 is due in March 2021. (a1) Your answer is correct. Prepare a multiple-step income statement for the year ending December 31, 2020. IVANHOE COMPANY Income Statement For the Year Ended December 31, 2020 Sales Revenue s 197,200 Cost of Goods Sold 115,000 Gross Profit 82,200 Operating Expenses Salaries and Wages Expense (40,000) Rent Expense (7,000) Bad Debt Expense (1,300) Depreciation Expense (10,000) 1 Total Operating Expenses (58,300) Income From Operations 23,900 Other Expenses and Losses Interest Expense (600) TNet Income / (Loss) 23,300 Prepare a retained earnings statement for the year ending December 31, 2020. (List items that increase retained earnings first.) IVANHOE COMPANY Retained Earnings Statement For the Year Ended December 31, 2020 v TRetained Earnings, 1/1/20 V 17,900 Add Net Income / (Loss) v 23,300 41,200 Less Poividends Less V Dividends (500) Retained Earnings, 12/31/20 V 40,700 Prepare a classified balance sheet as of December 31, 2020. (List Current Assets in order of liquidity.) IVANHOE COMPANY Balance Sheet December 31, 2020 Assets Current Assets Cash 37,000 Accounts Receivable 29,000 Allowance for Doubtful Accounts Les 1,500 27,500 Inventory 13,000 Total Current Assets 23,000 property, Plant and Equipment | Equipment 45,000 | Less Accumulated Depreciation-Equipment (4,000) 41,000 Total Assets 64,000 Liabilities and Stockholders' Equity Current Liabilities Notes Payable 5,000 | Accounts Payable 15,500 HARP Sales Taxes Payable 2,100 Salaries and Wages Payable 3,800 FICA Taxes Payable 1,000 T FICA Taxes Payable 1,000 | Interest Payable 900 Bonds Payable 11,000 || Mortgage Payable 12,000 Total Current Liabilities 50,800 Stockholders' Equity Common Stock 20,000 ||| Add Retained Earnings Sales Revenue |||

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