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i have accounts i just need numbers as fast as possible Vaughn Inc., a greeting card company, had thas .. aember 31 Income taxes payable
i have accounts i just need numbers as fast as possible
Vaughn Inc., a greeting card company, had thas .." aember 31 Income taxes payable Salaries and wages payable Short-term loans payable Long-term loans payable Common stock, $10 par Contributed capital, common stock Retained earnings Total liabilities \& stockholders' equity $311,70055,900$293,20033,600 VAUGHN INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 Sales revenue Cost of goods sold Gross profit 164,675174,600 Operating expenses Operating income 44,575120,100 Interest expense $11,200 GainonsaleofequipmentIncomebeforetax2,0009,20035,375 Income tax expense Net income $28,3007,075 Additional information: Dividends in the amount of $6,000 were declared and paid during 2020. 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year. 4. Equipment that had a cost of $20,100 and was 70% depreciated was sold during 2020. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow wi parenthesis e. . (15,000).) Step by Step Solution
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