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**for part 4 i was unable to figure out the rest of the assets and liabilities Check my work 6 Deacon Company is a merchandising
**for part 4 i was unable to figure out the rest of the assets and liabilities
Check my work 6 Deacon Company is a merchandising company that is preparing a budget for the three-month period ended June 30th. The following information is available 50 points Deacon Company Balance Sheet March 31 eBook Print References Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets $ 58,200 34,800 68,500 118,000 279,500 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 95,000 70,000 114,500 $ 279,500 Budgeted Income Statements April June Sales Cost of goods sold May $195,000 $205,000 $225,000 123,000 Gross marqin Selling and administrative expenses_18,600 Net operating income 117.000 78,000 135, 000 90,000 25 100- 82,000 20,100 59,400 61,900 66,900Step by Step Solution
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