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Fill in the following blanks: Balance sheet. Use the data from the following financial statements in the popup window, B. Complete the balance sheet. Hint:
Fill in the following blanks:
Balance sheet. Use the data from the following financial statements in the popup window, B. Complete the balance sheet. Hint: Find the accumulated depreciation for 2017 first. The accumulated depreciation for 2017 is $ 188100. (Round to the nearest dollar.) Complete the balance sheet for 2016: (Round to the nearest dollar.) Balance Sheet 12/31/2016 ASSETS LIABILITIES Current assets Cash Current liabilities $15,800 Notes payable $27,800 Accounts payable $13,800 $19,200 Accounts receivable Inventories $48,100 Total current liabilities $ Total current assets $ Long-term debt $189,800 $367,800 OWNERS' EQUITY Fixed assets Accumulated depreciation (-) Intangible assets $141,900 Retained earnings $82,000 Common stock $132,000 TOTAL LIABILITIES AND TOTAL ASSETS OWNERS' EQUITY Partial Income Statement Year Ending 2017 Sales revenue $350,200 Cost of goods sold $142,000 Fixed costs $42,900 Selling, general, and administrative expenses $27,800 Depreciation $46,200 (Click on the following icon 2 in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $15,800 Notes payable Accounts receivable $27,800 Accounts payable Inventories $48, 100 Long-term debt Fixed assets $367,800 OWNERS' EQUITY Accumulated depreciation (-) $141,900 Retained earnings Intangible assets $82,000|Common stock $13,800 $19,200 $189,800 $132,000 ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation (-) Intangible assets Partial Balance Sheet 12/31/2017 LIABILITIES $25,800 Notes payable $19,200 Accounts payable $53,100 Long-term debt $447,900 OWNERS' EQUITY Retained earnings $82,000 Common stock $11,800 $24,200 $161,800 $181,800Step by Step Solution
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