Exer 7 - Prepare Your Corp's financial statements for 12/31/X1 Accounts Pavable Cash 10 25 25 2 Accounts Receivable Accumulated Deprec.-Equip. Allowance for Doubtful Accounts Amortization Expense Bad Debt Expense Bond Pavable (Due 1/1/X5) 100 18 Common Stock 58 Cost of Goods Sold 85 Depreciation Expense 5 Discount on Bonds Pavable 3 Dividends 20 Equipment 50 Your Cord. Income Statement Year Ending 20X1 Revenue Expenses Estimated Warranty Liability Goodwill Interest Expense Inventory Land Note Receivable (1/20/X8) Paid in Capital in Excess Par-Common Patent Preferred Stock Retained Earnings 1/1/X1 Sales Treasury Stock Unearned Revenue Wage Expense Total Expenses Your Corp. Retained Earnings Statement Year Ending 20X1 ASSETS Current Assets: Your Corp. Balance Sheet 12/31/20X1 X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X Total Current Assets X 100 320 BORDER 10 30 40 40 80 26 15 73 35 90