I need the values in red please.
Return to questi + The accounting records of Wall's China Shop reflected the following balances as of January 1, Year 3; Cash Beginning inventory Common stock Retained earnings $17,500 18,270 (210 $87) 14,000 21,770 The following five transactions occurred in Year 3: 1. First purchase (cash): 125 units @ $89 2. Second purchase (cash): 195 units o$97 3. Sales (all cash): 365 units $199 4. Paid $16,650 cash for salaries expense 5. Pald cash for income tax at the rate of 25 percent of income before taxes Required a. Compute the cost of goods sold and ending inventory, assuming (1) FIFO cost flow. (2) LIFO cost flow, and (3) weighted average cost flow. Compute the income tax expense for each method, b. Use a vertical model to show the Year 3 income statement, balance sheet, and statement of cash flows under FIFO, LIFO, and weighted average (Hint: Record the events under an accounting equation before preparing the statements.) Required A Required B1 Required B2 Required B3 Use a vertical model to prepare the Year 3 income statement under FIFO, LIFO, and weighted average. (C intermediate calculations. Round your answers to nearest whole dollar amount.) WALL'S CHINA SHOP Income Statements For the Year Ended December 31, Year 3 FIFO LIFO + Sales Cost of goods sold Gross margin Salaries expense Income before tax Income tax expenses Net Income $ 72,635 32,305 40,330 16,650 23,680 5,920 $ 17,760 $ 72,635 33.955 38,680 16,650 22,030 5,508 $ 16,523 Weighted Average $ 72,635 33,270 39,365 16,650 22,715 5,679 $ 17,036 prepare the Year 3 balance sheet under FIFO, LIFO, and weighted average. (Do not ra Intermediate calculations. Round your answers to nearest whole dollar amount.) WALL'S CHINA SHOP Balance Sheets As of December 31, Year 3 FIFO LIFO Weighted Average Assets Cash Inventory $ 37,525 16,005 $ 37,938 14,355 $ 37,766 15,040 $ 53,530 $ 52,293 $ 52,806 Total assets Stockholders' equity Common stock Retained earnings $ 14,000$ 14,000 39,530 38,293 $ 14,000 38,806 Total stockholders' equity $ 53,530 $ 52,293 $ 52,806 Required B1 Required BS >
