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Here is the choices for the statement Financial statement data for Gibbons Electronics Company for 2016 follow GIBBONS ELECTRONICS COMPANY Comparative Statement of Financial Position
Here is the choices for the statement
Financial statement data for Gibbons Electronics Company for 2016 follow GIBBONS ELECTRONICS COMPANY Comparative Statement of Financial Position Dec. 31, 2016 Dec. 31, 2015 Assets $300,000 Cash $277,000 Accounts receivable 338,000 376,000 Inventory 302,000 267,000 Prepaid insurance 56,000 31,000 Total current assets 973,000 974,000 Property, plant, and equipment 659,000 584,000 (163.000) (140,000) Accumulated depreciation 444,000 Net capital assets 496,000 Total assets 1,469,000 $1,418,000 Liabilities and shareholders' equity $61,000 Accounts payable $54,000 Wages payable 15,000 10,400 Unearned revenue 48,000 40,000 53,000 Income taxes payable 0.000 Total current liabilities 177,000 154,400 Bonds payable 514,000 548,600 Total liabilities 703,000 691,000 Common shares 350,000 280,000 428,000 435,000 Retained earnings Total shareholders' equity 778,000 715,000 Total liabilities and shareholders' equity $1,469,000 $1,418,000 GIBBONS ELECTRONICS COMPANY Statement of Income For the year ended December 31, 2016 Sales revenue 000 Gain on sale of equipment 7,000 3,866,000 Expenses Cost of goods sold $2,122,000 357,000 Wages expense Depreciation expense 81,000 Other operating expenses 559,000 59,000 Interest expense Income taxes 348,000 Total expenses 3,526,000 Net income $340,000
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