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Comparative Balance Sheets Assets Cash Accounts receivable Prepaid insurance Inventory Property, plant & equipment Total Assets Liabilities and Stockholder's Equity Accounts payable Salaries payable Long-term
Comparative Balance Sheets Assets Cash Accounts receivable Prepaid insurance Inventory Property, plant & equipment Total Assets Liabilities and Stockholder's Equity Accounts payable Salaries payable Long-term notes payable Beginning of Year End of Year Revenue $287,000 Cost of goods sold (164,000) Gross margin 123,000 Operating expenses (82,000) Net income $41,000 $49,200 16,400 41,000 24,600 49,200 $180,400 $32,800 41,000 32,800 Common stock 12,600 Retained earnings 61,200 Total Liabilities and Stockholders' Equity $180,400 Income Statement $90,200 32,800 32,800 8,200 41,000 $205,000 $49,200 16,400 24,600 21,500 93,300 $205,000 What was the cash received from customers during the year?
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