Financial Statements

A list of accounts for Maple Inc. at December 31, 2017, follows:

Accounts Receivable	$2,353		Land	$20,000
Advertising Expense	4,610		Net purchases	39,410
Buildings and Equipment, Net	55,460		Retained Earnings, January 1, 2017	33,417
Capital Stock	49,400		Salaries Expense	25,670
Cash	580		Salaries Payable	670
Depreciation Expense	2,400		Net sales	83,577
Dividends	6,020		Transportation-In	341
Income Tax Expense	3,200		Utilities Expense	3,700
Income Tax Payable	3,170
Interest Receivable	110
Inventory:
January 1, 2017	6,380
December 31, 2017	7,460

Determine cost of goods sold for 2017. $fill in the blank

2. Determine net income for 2017. $fill in the blank

Question Content Area

3. Prepare a balance sheet dated December 31, 2017.

Maple Inc. Balance Sheet At December 31, 2017

Assets
Current assets:
Buildings and equipment, netCapital stockCashPurchasesSales	$- Select -
Accounts receivableDepreciation expenseLandSalaries payableSales returns	- Select -
Capital stockCost of goods soldInventorySalaries expenseSales	- Select -
Advertising expenseIncome tax payableInterest receivablePurchase discountsRetained earnings	- Select -
Total current assets		$fill in the blank 51b6260abf82057_9
Property, plant, and equipment:
Accounts receivableCapital stockDividendsLandPurchases	$- Select -
Buildings and equipment, netCashInterest receivableInventoryRetained earnings	- Select -
Total property, plant, and equipment		fill in the blank 51b6260abf82057_14
Total assets		$fill in the blank 51b6260abf82057_15
Liabilities
Current liabilities:
Capital stockDividendsInventorySalaries expenseSalaries payable	$- Select -
DividendsIncome tax expenseIncome tax payablePurchase discountsRetained earnings	- Select -
Total liabilities		$fill in the blank 51b6260abf82057_20
Stockholders' Equity
Buildings and equipment, netCapital stockCashIncome tax expenseSales	$- Select -
Income tax payableInterest receivableInventoryNet incomeRetained earnings	- Select -	blank
Total stockholders' equity	blank	fill in the blank 51b6260abf82057_25
Total liabilities and stockholders' equity		$fill in the blank 51b6260abf82057_26