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I need correct answers for this question please. Question 1 Following are selected balance sheet accounts of Concord Bros. Corp. at December 31, 2017 and
I need correct answers for this question please.
Question 1 Following are selected balance sheet accounts of Concord Bros. Corp. at December 31, 2017 and 2016, and the increases or decreases in each account from 2016 to 2017. Also presented is selected income statement information for the year ended December 31, 2017, and additional information Selected balance sheet accounts Increase Assets Accounts receivable Property, plant, and equipment Accumulated depreciation-plant assets 2017 $34,300 277,800 (179,800)(168,500) 2016 $23,700 248,000 (Decrease) $10,600 29,800 (11,300 ) 2017 2016 Increase Liabilities and stockholders' equit Bonds payable Dividends payable Common stock, $1 par Additional paid-in capital Retained earnings 48,900 8,100 21,900 9,100 103,300 $45,900 5,000 19,200 2,900 90,600 $3,000 3,100 2,700 6,200 12,700 Selected income statement information for the year ended December 31, 2017: Sales revenue Depreciation Gain on sale of equipment Net income $153,700 37,900 14,300 31,000Step by Step Solution
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