Gold Coast Landscape Services Company (GCLS) is a sole proprietor business located in the Southwest United States. The company has 150 employees and provides landscaping services including sales and installation of plants, mowing, general landscape, and pest control services. The following accounts are used by the company and at 12/31/2017 the company had the following balances:

Account Name	Balance at 12/31/2017
Accounts Payable	$ 70,000
Accounts Receivable	$ 125,000
Accumulated Depreciation - PPE	$ 800,000
Allowance for Bad Debt/Doubtful Accounts	$ 5,000
Bank Service Charges	$ 200
Capital Stock	$ 1,000,000
Cash	$ 45,000
COG Sold	$ 958,000
Depreciation Expense	$ 48,000
Income Tax Expense	$ 75,000
Income Taxes Payable	$ 75,000
Insurance Expense	$ 6,400
Land	$ 64,800
Marketable Securities	$ 25,000
Merchandise Inventory for Sale	$ 250,000
Office Supplies	$ 1,200
Office Supplies Expense	$ 400
Prepaid Insurance	$ 6,600
Property Plant and Equipment	$ 1,791,000
Retained Earnings 1/1/2017	$ 240,200
Salary and Wages Expense	$ 395,000
Sales	$ 1,600,000
Uncollectible Accounts Expense/Bad Debt Expense	$ 9,000
Unearned Customer Revenue	$ 8,000
Unrealized Holding Gains on Investments	$ 6,000
Utilities Expense	$ 3,600

ADDITIONAL INFORMATION

1. The bank statement from NW Citizens Bank indicates a 12/31/17 balance of $46,975. Upon review of the bank statement, the following data was provided:
   1. NSF check in the amount of $2,500 from customer Stan and Mary Davis
   2. Bank service charge of $25
   3. The following checks dated December 2017 are not listed on the reconciliation statement:
      • 5089 for $6,500
      • 5076 for $7,500
      • 5099 for $7,000
   4. Nancy Lopez, the accounts receivable clerk, provided you with the bank deposit slip for 12/31/2017 for $16,500.

1. GCLSs investment portfolio consists of marketable securities. At purchase, the cost of these securities was $19,000. At the end of this year, the value of those same securities is now $27,500. These securities are identified in the records as available for sale.

1. GCLS incorporates a perpetual inventory system for all stock including nursery items. During the year-end physical inventory, it was noted that several cactus plants were missing. Upon investigation, it was determined that the plants had suffered from a parasite and were a total loss. It was estimated that the loss was $1,350. The stock is not insured and is not considered a material loss for the company.

1. Every year, GCLS renews its insurance policies for a 12-month period and makes the payment to National Insurance in advance. The policies begin November 1 each year and this year the premium rose as a result of a change in more expensive plantings on hand.