ework for Module 6 i 1 Saved The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the Year Ended December 31, 2024 Net sales $3,026,000 Cost of goods sold apped 1,948,000 Gross profit Expenses: Operating expenses 1,078,000 $856,000 Book Depreciation expense Loss on sale of land 26,000 7,800 Ask Interest expense 14,000 erences Income tax expense Total expenses Net income 46,000 949,800 $128,200 W VIRTUAL GAMING SYSTEMS Balance Sheets December 31 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity 2024 2023 $184,000 79,000 103,000 $142,000 58,000 133,000 11,800 5,760 103,000 0 208,000 238,000 268,000 208,000 (66,000) (40,000) 890,800 $744,760 Prev 1 of 4 Next=