inancial Statements

A list of accounts for Maple Inc. at December 31, 2017, follows:

Accounts Receivable	$2,407		Land	$20,100
Advertising Expense	4,520		Net purchases	39,310
Buildings and Equipment, Net	55,500		Retained Earnings, January 1, 2017	32,853
Capital Stock	49,700		Salaries Expense	25,630
Cash	530		Salaries Payable	580
Depreciation Expense	2,200		Net sales	83,493
Dividends	6,070		Transportation-In	299
Income Tax Expense	3,180		Utilities Expense	3,680
Income Tax Payable	3,300
Interest Receivable	110
Inventory:
January 1, 2017	6,390
December 31, 2017	7,530

Required:

1. Determine cost of goods sold for 2017. $

2. Determine net income for 2017. $

3. Prepare a balance sheet dated December 31, 2017.

Maple Inc.
Balance Sheet
At December 31, 2017
Assets
Current assets:
	$
Total current assets		$
Property, plant, and equipment:
	$
Total property, plant, and equipment
Total assets		$
Liabilities
Current liabilities:
	$
Total liabilities		$
Stockholders' Equity
	$
Total stockholders' equity
Total liabilities and stockholders' equity		$