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i need help creating an income statement out of the BS ASSETS Current Assets Cash 300,000.00 Accounts Receivable 900,000.00 Inventory 200,000.00 Prepaids 10,000.00 Deposit -
i need help creating an income statement out of the BS
| ASSETS | ||
| Current Assets | ||
| Cash | 300,000.00 | |
| Accounts Receivable | 900,000.00 | |
| Inventory | 200,000.00 | |
| Prepaids | 10,000.00 | |
| Deposit | - | |
| Non Current Assets | ||
| Property Plant & Equipment | 40,800.00 | |
| Accum Depreciation | (2,500.00) | |
| Total Assets | 1,448,300.00 | |
| LIABILITITES | ||
| Current Liabilities | ||
| Accounts Payable | 342,500.00 | |
| Accrued Expenses/Liabilities | 7,000.00 | |
| Unearned Revenue | - | |
| Non Current Liabilities | ||
| Note Payable Long Term | ||
| Unearned Revenue Long Term | ||
| Total Liabilities | 349,500.00 | |
| EQUITY | ||
| Common Stock | 10,000.00 | |
| Additional Paid In Capital | 500,000.00 | |
| Treasury Stock | - | |
| Retained Earnings | 588,800.00 | |
| Total Equity | 1,098,800.00 |
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College Accounting A Practical Approach
Authors: Jeffrey Slater, Debra Good
14th Canadian Edition
0135222419, 978-0135222416
