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Complete the comparative income statement and balance sheet for Logic Company. (Input all answers as positive values except decrease answers which should be Indicated by

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Complete the comparative income statement and balance sheet for Logic Company. (Input all answers as positive values except decrease answers which should be Indicated by a minus sign. Round your "percent" answers to the nearest hundredth percent.) LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2019 and 2020 Increase (Decrease) Amount Percent 2020 2019 $ $ $ 18,750 24,000 900 23.100 100 $ 10.750 18,650 7.100 11.550 $ 12,350 s s 1,200 $ 850 Gross sales Sales returns and allowances Net sales Cost of merchandise (goods) sold Gross profit Operating expenses: Depreciation Selling and administrative Research Miscellaneous Total operating expenses Income before interest and taxes Interest expense Income before taxes Provision for taxes 5,950 4,500 750 1.050 880 s $ 9,080 3.290 550 6,650 4.000 750 $ $ 1.000 2,230 s $ 892 4,150 1.660 2.490 Net income $ 1,338 $ LOGIC COMPANY Comparative Balance Sheet December 31, 2019 and 2020 2020 Amount Percent 2019 Amount Percent Assets $ $ 7.900 11.500 Current assets: Cash Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment: Building (net) Land Total plant and equipment 11.000 15.500 7,500 23.000 57,000 13,000 9,000 41,400 $ $ s $ 13,500 12.500 26.000 83.000 10.100 8,000 18,100 59.500 $ $ $ Total assets $ $ s 12.000 8.000 18,000 6.100 4.000 10,100 $ s Liabilities Current liabilities: Accounts payable Salaries payable Total current liabilities Long-term liabilities: Mortgage note payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 21.000 19,400 29.500 s 39,000 s s $ 20.300 23,700 44,000 83.000 20.300 9.700 30,000 59,500 s $ $ s

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