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Financial Statements The following are account balances (sted alphabetically) for the McGregor Sporting Goods Company at 1201/21 Prepare in good for including statement headers
Financial Statements The following are account balances (sted alphabetically) for the McGregor Sporting Goods Company at 1201/21 Prepare in good for including statement headers their 2021 income statement (5 points), statement of changes in equity (5 points) and balance sheet (points). Account Name Balance Accounts Payable $16.000 Accounts Receivable $27,000 Accumulated depreciation ($18.000) Cash $92,000 Cost of goods sold $181,000 Equipment $66,000 Interest expense $1,000 Inventory $27,000 Notes payable $50,000 Operating expenses (incl $37,000 wages) Paid-in capital $10.000 Sales revenue $316,000 Retained Eamings @1/121 Wages payable $19,000 $2,000
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