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Cornerstone Co. Balance Sheet Accounts 12/31/18 $2,100 392 145 128 500 244 250 12/31/17 Bonds Payable $2,100 Cash 400 Accounts Receivable Preferred Stock 500 Accounts
Cornerstone Co. Balance Sheet Accounts 12/31/18 $2,100 392 145 128 500 244 250 12/31/17 Bonds Payable $2,100 Cash 400 Accounts Receivable Preferred Stock 500 Accounts Payable Land 3,285 Common Stock 1,200 Inventory Retained Earnings 320 Unearned Rent Revenue (to be earned in 2 months) Prepaid Insurance (3-month policy) Taxes Payable 3,285 1,200 520 480 400 40 28 114 173 20 20 Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 Cornerstone Co. Income Statement Accounts For Year Ended 12/31/18 Insurance Expense Interest Expense $60 32 Cost of Goods Sold 1,500 Rent Revenue 25 Net Sales Revenue 2,000 Tax Expense 27 Other Information 2018 Dividends to Common Shareholders $40 2018 Dividends to Preferred Shareholders $200 2018 Common Shares outstanding 100sh 2018 Preferred Shares outstanding 50sh 2018 Stock Price $100 All Sales on credit Note: Use the Cornerstone Co. data and the Reference Sheet to assist you in answering the following quest 2018 Dividends to Common Shareholders $40 2018 Dividends to Preferred Shareholders $200 2018 Common Shares outstanding 100sh 2018 Preferred Shares outstanding 50sh 2018 Stock Price $100 All Sales on credit Note: Use the Cornerstone Co. data and the Reference Sheet to assist you in answering the following question. What is the 2018 Days in Inventory? Select one: O a 122 Ob. 91 Oc117 Od 365 O e 127
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