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General Ledger for ABC Company The following is the general ledger for ABC Company as of December 31, 20X1. Use this information to answer questions
General Ledger for ABC Company The following is the general ledger for ABC Company as of December 31, 20X1. Use this information to answer questions (1) through (4) ABC Company General Ledger As of December 31, 20X1 Amount Book Assets a Cash Terences Accounts receivable $29,400 8,100 4,900 20,200 Supplies Prepaid rent Equipment (net) 63,800 Liabilities Accounts payable $ 6,300 4,000 Salaries payable Interest payable 1,100 Utilities payable 3,700 Bonds payable 38,400 Stockholders' equity Common stock $60,900 neducation.com/llow/connect.html tatement and Taxes i Saved Common stock $60,900 Retained earnings Dividends 2,100 Revenues Sales revenue $54,200 Interest revenue 1,400 Expenses Cost of goods sold Salaries expense $15,100 7,100 4,900 Rent expense Supplies expense Utilities expense 1,300 4,800 Depreciation expense Interest expense Income tax expense 2,500 2,100 3,700 1. What is the amount of gross profit to be reported on ABC Company's 12/31/X1 income statement? $40,500 $14,100 $39,100 MacBook Pro + Chapter 2 Income Statement heducation.com Tlow/connect.html tatement and Taxes 2. What is the amount of operating income (EBIT) to be reported on ABC Company's 12/31/X1 income statement? $36,100 $18,500 $14,800 $14,100 What is the amount of earnings before taxes (EBT) to be reported on ABC Company's 12/31/X1 income statement? $15,000 $17,800 $12,000 $18,500 4. What is the amount of net income to be reported on ABC Company's 12/31/X1 income statement? $17,800 $12,000 $14,100 $18,500 MacBook Pro
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