Constructing Financial Statements from Account Data Barth Company reports the following year-end account balances at December 31, 2016. Prepare the 2016 income statement and the balance sheet as of December 31, 2016.

Accounts payable	$ 16,000	Inventory	$ 36,000
Accounts receivable	30,000	Land	80,000
Bonds payable, long-term	200,000	Goodwill	8,000
Buildings	151,000	Retained earnings	160,000
Cash	148,000	Sales revenue	500,000
Common stock	150,000	Supplies inventory	3,000
Cost of goods sold	180,000	Supplies expense	6,000
Equipment	70,000	Wages expense	40,000

Barth Company Income Statement For Year Ended December 31, 2016
AnswerAccounts payableAccounts receivableBonds payableBuildingsCashCommon stockCost of goods soldEquipmentInventoryLandGoodwillRetained earningsSales revenueSupplies inventorySupplies expenseWages expense		$Answer
Expenses
AnswerAccounts payableAccounts receivableCost of goods soldRetained earningsSales revenue	Answer
AnswerLandGoodwillBonds payableCommon stockWages expense	Answer
AnswerBuildingsEquipmentInventorySupplies inventorySupplies expense	Answer
Total expenses		Answer
Net income		$Answer

Barth Company Balance Sheet

December 31, 2016

Assets
Cash	$Answer
AnswerAccounts payableAccounts receivable	Answer
AnswerSupplies inventorySupplies expense	Answer
AnswerCost of goods soldInventory	Answer
Total current assets	Answer
AnswerCommon stockLand	Answer
AnswerEquipmentRetained earnings	Answer
AnswerBuildingsSales revenue	Answer
AnswerGoodwillWages expense	Answer
Total assets	$Answer

Liabilities and equity
AnswerAccounts payableAccounts receivableCashCost of goods soldEquipmentInventorySupplies inventorySupplies expense	$Answer
AnswerBonds payable, long-termBuildingsCommon stockLandGoodwillRetained EarningSales revenueWage expenses	Answer
Total liabilities	Answer
AnswerAccounts payableAccounts receivableBonds payableBuildingsCashCommon stockCost of goods soldEquipment	Answer
AnswerInventoryLandGoodwillSupplies inventoryRetained EarningsSales revenueSupplies inventorySupplies expenseWages expense	Answer
Total equity	Answer
Total liabilities and equity	$Answer