Case Assignment: Financial Statemen

Objective: Create a Balance Sheet and Income Statement udinf the information below.

GL Accounts:

Cash: $$50,000$

Accounts Receivable: $$80,000$

Inventory: $$120,000$

Property, Plant, and Equipment: $$300,000$

Accounts Payable: $$70,000$

Long$-$term Debt: $$150,000$

Common Stock: $$100,000$

Retained Earnings: $$230,000$

Sales Revenue: $$500,000$

Cost of Goods Sold: $$350,000$

Operating Expenses: $$100,000$

Interest Expense: $$10,000$

Income Tax Expense: $$30,000$

Dividends: $$20,000$