e taxes 26,600 72,800 $ LAG Network Inc. Comparative Balance Sheet Information December 31 2020 2019 $ 81,270 50,400 273,630 162,400 (79,800) $ 487,900 ts receivable ndise inventory ent lated depreciation assets ities and Equity Es payable taxes payable shares ed earnings iabilities and equity 56,000 39,200 259,000 140,000 (54,600) $ 439,600 $ 39,200 19,600 371,000 58,100 $ 487,900 $ 51,800 18, 200 325,500 44,100 $ 439,600 I information regarding LAG Network Inc.'s activities during 2020: ment is purchased for $22,400 cash. common shares are issued for cash at $2.50 per share. ed and paid $58,800 of cash dividends during the year. Chapter 16 i LAG Network Inc.'s balance sheet and income statement are as follows: 10 points $ 936,600 564,200 $ 372,400 eBook LAG Network Inc. Income Statement For Year Ended December 31, 2020 Sales Cost of goods sold Gross profit Operating expenses: Depreciation expense $ 25,200 Other expenses 247,800 Total operating expenses Profit from operations Income taxes Profit Print References $ 273,000 99,400 26,600 72,800 $ LAG Network Inc. Comparative Balance Sheet Information December 31 2020 2019 Assets e taxes 26,600 72,800 $ LAG Network Inc. Comparative Balance Sheet Information December 31 2020 2019 $ 81,270 50,400 273,630 162,400 (79,800) $ 487,900 ts receivable ndise inventory ent lated depreciation assets ities and Equity Es payable taxes payable shares ed earnings iabilities and equity 56,000 39,200 259,000 140,000 (54,600) $ 439,600 $ 39,200 19,600 371,000 58,100 $ 487,900 $ 51,800 18, 200 325,500 44,100 $ 439,600 I information regarding LAG Network Inc.'s activities during 2020: ment is purchased for $22,400 cash. common shares are issued for cash at $2.50 per share. ed and paid $58,800 of cash dividends during the year. Chapter 16 i LAG Network Inc.'s balance sheet and income statement are as follows: 10 points $ 936,600 564,200 $ 372,400 eBook LAG Network Inc. Income Statement For Year Ended December 31, 2020 Sales Cost of goods sold Gross profit Operating expenses: Depreciation expense $ 25,200 Other expenses 247,800 Total operating expenses Profit from operations Income taxes Profit Print References $ 273,000 99,400 26,600 72,800 $ LAG Network Inc. Comparative Balance Sheet Information December 31 2020 2019 Assets