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find the answers The following financial statement information for Peal Company as for the year 2021 Required Fill the missing amounts (Hint There are 6
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The following financial statement information for Peal Company as for the year 2021 Required Fill the missing amounts (Hint There are 6 missing amounts) Note: Write only the final amount. Do not show your calculation. Peal Company Income Statement For the year ended 2021 Net Sales $20,000 -1- Cost of goods sold Gross profit 10,500 Operating expenses -2. Selling expenses General and administrative expense 2.800 5 Total operating expenses Income from operations Other expenses Interest Z:300 3,200 1,200 Peal Company Statement of Owner's equity For 2021 $4,000 Capital, Beginning balance Add Investment Net income Less Drawings Capital, Ending balance 6,000 2,000 3 8,000 Caponso0 Income from operations Other expenses expense Net income Assets Cash Prepaid rent Office Furniture Computer Equipment Total Assets Interest $35,000 10,000 10,000 5,000 $60,000 Peal Company Balance Sheet As of Dec 31, 2021 Liabilities and Equity. Notes Payable -6- Owner's equity Owner's capital -5- Total Liabilities -4- & Equity 3,200 1,200 $2,000 Step by Step Solution
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