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Financial Planning & Control (PMBA 5373) Balance Sheet and Income Statement Homework #1, 10 points due 11:59 p.m., Thursday 8/26/21 The table below lists names

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Financial Planning & Control (PMBA 5373) Balance Sheet and Income Statement Homework #1, 10 points due 11:59 p.m., Thursday 8/26/21 The table below lists names and dollar amounts for accounts from Apex Corporation as of 12/31/20 Accounts payable $220.000 Inventories $375,000 Accounts receivable $450,000 Land $100,000 Accrued expenses $ 55,000 Long-term debt $420,000 Accumulated depreciation $265,000 Machinery $420,000 Buildings $225,000 Marketable securities $ 75,000 Cash $215,000 Notes payable $475,000 Common stock (par value) $ 90,000 Paid-in capital $360,000 Cost of goods sold $2,500,000 Preferred stock $100,000 Depreciation expense $ 45,000 Retained earnings $210,000 Equipment $140,000 Sales $3,600,000 Administrative expense $320,000 Vehicles $ 25,000 Furniture & fixtures $170.000 IntUsing the information above, do the following: 1. label each item in the list as either current asset, fixed asset, contra-asset, current liability, long-term liability, equity, expense, or revenueerest expense $ 27,000 In addition, Apex Corporation pays taxes at a rate of 40%. 2. create a balance sheet as of 12/31/20 3 create an income statement as of 12/31/20

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