Help

Pinnacle Plus declared and paid a cash dividend of $8,100 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized Information: Current Year Previous Year $185,000 82,000 103,000 51,090 5,500 46,500 13,950 $ 32,550 $159,990 78,000 81,800 45,000 5, see 30, 500 9,150 $ 21,350 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Note Payable (long-term) Total Liabilities Common Stock (par 510) Retained Earnings Total Liabilities and Stockholders' Equity aces $ 89,075 32,000 40,000 110,000 $271, 075 $ 57,000 1,375 55,000 113,375 99,000 58,200 $271,275 $ 23,000 27,000 53,000 120,000 $225,000 $ 33,500 1,250 55,000 89,750 99,000 34,250 $223,800 Pinnacle Plus declared and paid a cash dividend of $8,100 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized Information: Current Year Previous Year $185,000 82,000 103,000 51,090 5,500 46,500 13,950 $ 32,550 $159,990 78,000 81,800 45,000 5, see 30, 500 9,150 $ 21,350 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Note Payable (long-term) Total Liabilities Common Stock (par 510) Retained Earnings Total Liabilities and Stockholders' Equity aces $ 89,075 32,000 40,000 110,000 $271, 075 $ 57,000 1,375 55,000 113,375 99,000 58,200 $271,275 $ 23,000 27,000 53,000 120,000 $225,000 $ 33,500 1,250 55,000 89,750 99,000 34,250 $223,800