complete balance sheet, income statement and analysis table.

College Coasters is a San Diego-based merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1 $ 8,400 1,640 320 540 890 Cash Accounts Receivable Inventory Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Rent Expense Salaries and Wages Expense Depreciation Expense Income Tax Expense office Expenses 90 1,340 300 0 5,700 3,000 12,440 7,300 990 1,600 90 0 1,100 The company buys coasters from one supplier. All amounts in Accounts Payable on December 1 are owed to that supplier. The inventory on December 1 consisted of 800 coosters, all of which were purchased in a batch on July 10 at a unit cost of $0.40. College Coasters records its inventory using perpetual inventory accounts and the FIFO cost flow method. During December, the company entered into the following transactions some of these transactions are explained in greater detail below. COLLEGE COASTERS 14,440 Income Statement For the Year Ended December 31 Revenues: Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Salaries and Wages Expense 1,940 Rent Expense 1,080 Office Expenses 1,260 Depreciation Expense 90 8,148 6,292 $ 0 $ Total Operating Expenses Income before Income Tax Expense Income Tax Expense Net Income 4,370 1,922 700 COLLEGE COASTERS Balance Sheet As of December 31 Assets Current Assets Cash 7,210 Accounts Receivable 2,790 45 Inventory Prepaid Rent Total Current Assets Equipment Total Assets 450 10,495 90 x 10,585 7 533 140 700 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Salaries and Wages Payable Income Taxes Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 1,373 5,700 4,222 9,922 11,295 $ $ times per year Inventory Turnover Ratio Days to Sell days