Question
Cash$62,460Accounts receivable150,120Inventory195,870Prepaid insurance25,030Equipment493,380Accumulated depreciation84,680Accounts payable63,865Notes payable111,865Common stock200,000Dividends52,870Retained earnings278,420Sales3,384,420Rent revenue (Nonoperating)19,930Cost of goods sold2,390,295Interest expense (Nonoperating)15,410Selling/general/administrative expense550,610Research and development expense168,080Depreciation expense39,055 Current liabilities Accounts payable $
Cash$62,460Accounts receivable150,120Inventory195,870Prepaid insurance25,030Equipment493,380Accumulated depreciation84,680Accounts payable63,865Notes payable111,865Common stock200,000Dividends52,870Retained earnings278,420Sales3,384,420Rent revenue (Nonoperating)19,930Cost of goods sold2,390,295Interest expense (Nonoperating)15,410Selling/general/administrative expense550,610Research and development expense168,080Depreciation expense39,055
Current liabilitiesAccounts payable
$Notes payable (current portion)
Total current liabilities$Long-term liabilitiesNotes payable (long-term portion)
Total liabilities$Stockholders' EquityCommon stock
$Retained earnings
Total stockholders' equity$Total liabilities and stockholders' equity
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