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Help Save & Ex I Required information [ The following information applies to the questions displayed below. ] Assume that you are the president of

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Assume that you are the president of Highlight Construction Company. At the end of the first year of operations (December 31), the following financial data for the company are available:
Cash
Receivables from customers (all considered collecilible)
Inventory of merchandise (based on physical count and priced at
Equipment owned, at cost less used portion 10,900
Accounts payable owed to suppliers 76,000
Salary payable (on December 31, this was owed to an employee who will be paid on January 10)41,900
Expenses, including the cost of the merchandise sold (excluding income taxes) Income tax expense at 30% pretax income; all paid during 600
Common stock (December 31)84,200
Dividends declared and paid
(Note: The beginning balances in during the current year
89,100
10,500
Prepare a balance sheet at December 31,
\table[[HIGHLIGHT CONSTRUCTION COMPANY],[Balance Sheet],[Assets For the Year Ended December 31, Current Year],[Cash]]
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