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Complete the income statement and balance sheet using the trial balance. 9,760 $ 200,000 118,400 314,984 Balance Sheet Assets Cash Accounts receivable Inventory Store equipment
Complete the income statement and balance sheet using the trial balance.
9,760 $ 200,000 118,400 314,984 Balance Sheet Assets Cash Accounts receivable Inventory Store equipment Accumulated depreciation store equipment Book value of equipment Total assets Liabilities Accounts payable Utilities payable Sales commissions payable Line of credit Equity Common stock Retained earnings Total liabilities and equity 23,936 50,000 314,984 Required information [The following information applies to the questions displayed below. The following trial balance was drawn from the records of Havel Company as of October 1, year 2. $ 16,000 60,000 40,000 200,000 Cash Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earnings Totals $ 76,800 72,000 100,000 50,000 17,200 $316,000 $316,000 b. Supply the missing information in the following pro forma income statement and balance sheet for the fourth quarter of year 2. The statements are prepared as of December 31, year 2. Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Supply the missing information in the following pro forma income statement for the fourth quarter of year 2. The statement is prepared as of December 31, year 2. Income Statement 357,480 Sales revenue Cost of goods sold Gross margin Operating expenses Operating income Interest expense Net income 193,290 (2,530) 190,760 $ 9,760 $ 200,000 118,400 314,984 Balance Sheet Assets Cash Accounts receivable Inventory Store equipment Accumulated depreciation store equipment Book value of equipment Total assets Liabilities Accounts payable Utilities payable Sales commissions payable Line of credit Equity Common stock Retained earnings Total liabilities and equity 23,936 50,000 314,984 Required information [The following information applies to the questions displayed below. The following trial balance was drawn from the records of Havel Company as of October 1, year 2. $ 16,000 60,000 40,000 200,000 Cash Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earnings Totals $ 76,800 72,000 100,000 50,000 17,200 $316,000 $316,000 b. Supply the missing information in the following pro forma income statement and balance sheet for the fourth quarter of year 2. The statements are prepared as of December 31, year 2. Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Supply the missing information in the following pro forma income statement for the fourth quarter of year 2. The statement is prepared as of December 31, year 2. Income Statement 357,480 Sales revenue Cost of goods sold Gross margin Operating expenses Operating income Interest expense Net income 193,290 (2,530) 190,760 $Step by Step Solution
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