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How do I fill out the balance sheet? Peyton Approved Income Statement For Year Ending 12/31/2017 begin{tabular}{l|r|} hline Bakery Sales & $335,675.00 hline Merchandise
How do I fill out the balance sheet?
Peyton Approved Income Statement For Year Ending 12/31/2017 \begin{tabular}{l|r|} \hline Bakery Sales & $335,675.00 \\ \hline Merchandise Sales & $35,200.00 \\ \hline Total Revenues & 370,875.00 \\ \hline Merchandise Cost of Goods Sold (FIFO) & 15,760.00 \\ \hline Baking Cost of Goods Sold & 137,400.00 \\ \hline Gross Profit & 217,715.00 \\ \hline & \\ \hline Operating Expenses: & \\ \hline Rent Expense & 90,000.00 \\ \hline Interest Expense & 1,468.75 \\ \hline Insurance Expense & 2,000.00 \\ \hline Depreciation Expense & 2,642.86 \\ \hline Amortization Expense & 2,000.00 \\ \hline Misc. Expense & 2,780.00 \\ \hline Office Supplies Expense & 1,350.00 \\ \hline Business License Expense & 375.00 \\ \hline Advertising Expense & 5,200.00 \\ \hline Wages Expense & 22,800.00 \\ \hline Telephone Expense & 3,456.00 \\ \hline Total Operating Expenses: & 134,072.61 \\ \hline & \\ \hline Net Income & 83,642.39 \\ \hline \end{tabular} Peyton Approved Statement of Retained Earnings For Year Ending 12/31/2017 \begin{tabular}{|l|c|} \hline Beginning Balance: & \\ \hline plus Net Income & 83,642.39 \\ \hline less Dividends: & 20,000.00 \\ \hline Ending Balance: & 63,642.39 \\ \hline \end{tabular} Balance Sheet As of December 31, 2017Step by Step Solution
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