Foxtrot Corporation
Trial Balance
12.31.23
	Debit	Credit
Cash	$ 100,000
Account Receivable	$ 250,000
Allowance for doubtful accounts		$ 5,000
Prepaid expenses	$ 10,000
Inventory	$ 180,000
Land	$ 50,000
Equipment	$ 4,000,000
Accumulated depreciation equipment		$ 4,000,000
Account Payable		$ 200,000
Accrued Salaries		$ 50,000
Accrued Interest		$ 10,000
Federal Income taxes payable		$ 19,000
State Income Taxes Payable		$ 6,000
Bonds payble Long Term		$ 1,000,000
Common stock		$ 50,000
Paid in capital in excess of par		$ 250,000
Retained earnings	$ 970,000
Revenues		$ 5,000,000
Cost of goods sold	$ 4,000,000
Salaries	$ 300,000
Rent	$ 120,000
Depreciation	$ 400,000
Interest expense	$ 60,000
Bad debts	$ 10,000
Insurance expense	$ 15,000
Fines and penalties	$ 100,000
Federal Income taxes expense	$ 19,000
State Income Taxes expense	$ 6,000
	$ 10,590,000	$ 10,590,000
Required Calculate the Company's: Net income (loss) 5 Points Pretax income (loss) 5 Points Total assets 5 Points Total equity (deficit) 5 Points Gross profit and gross profit percentage 2 Points Working capital 3 Points.