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For these four financial statement problems you must use the following data, as required (not all data will be necessary): Cash 40,000 Wages expense 97,000

For these four financial statement problems you must use the following data, as required (not all data will be necessary):

Cash

40,000

Wages expense

97,000

Beginning Inventory

1,150,000

Ending inventory

1,330,000

Freight expense

5,000

Purchases

270,000

Accounts receivable

125,000

Sales

340,000

Accounts payable

40,000

Net fixed assets

750,000

Long-term debt

600,000

Utilities expense

15,000

Rent expense

33,000

Taxes (% of pre-tax income)

40%

b. How much are Total Assets?image text in transcribed

Question 10 For these four financial statement problems you must use the following data, as required (not all data will be necessary): Cash Wages expense Beginning Inventory Ending inventory Freight expense Purchases Accounts receivable Sales Accounts payable Net fixed assets Long-term debt Utilities expense Rent expense Taxes (% of pre-tax income) 40,000 97,000 1,150,000 1,330,000 5,000 270,000 125,000 340,000 40,000 750,000 600,000 15,000 33,000 40% b. How much are Total Assets

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