Financial Statements -30 points For each of the boxes outlined in bla 10,000 15.000 6.000.000 3,600000 REVENUES Sales Less: Sales Returns Sales Discounts Net Sales Cost of Goods Sold Gross Profit OPERATING EXPENSES: Salaries Rent Depreciation Repairs Bad Debts Total Operating Expenses 1,000,000 300,000 280,000 200,000 2,180,000 Income Tax Expense The Grande Finale Statement of Stockholders' Equity For the Year Ended December 31, 2020 Common Stock Total Stockholders Equity Retained Earnings $75,000 Beginning Balance, Jan. 1 Issuance of Common Stock Add: Net Income for the Period 50,000 200,000 (100,000) Ending Balance, Dec. 31 $875,000 BASE radea Current Assets $70,000 020 Accounts Receivable Less: Allowance for Uncollectible Accounts Accounts Receivable, net Notes Receivable Inventory Prepaid Expenses Total Current Assets Property. Plant Equipment: Land Equipment Less: Accumulated Depreciation Equipment, net Total Property. Plant & Equipment Total Assets 1.300.000 500,000 300.000 700.000 450,000 30,000 20,000 35,000 15,000 950,000 LIABILITIES & STOCKHOLDERS' EQUITY Current Liabilities: Notes Payable Accounts Payable Salaries Payable Income Taxes Payable Sales Taxes Payable Payroll Taxes Payable Total Current Liabilities Long-Term Debt: Notes Payable 7% Bonds Payable Total Long-Term Debt Total Liabilities Stockholders' Equity: Common Stock, $10 par value Retained Earnings Total Stockholders' Equity Total Liabilites & Stockholders' Equity 1 100.000 200,000 300,000 950,000 1,050,000