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Lovely Currents Company had the following accounts and balances at the end of the year. What are gross profits at the end of the year?
Lovely Currents Company had the following accounts and balances at the end of the year. What are gross profits at the end of the year? (Do not use punctuation marks, like commas, periods etc nor $ sign) Accumulated Cash $ 78,000 Amortization/Depreciation $ 20,000 Accounts Payable 13,000 Interest Expense 3,000 Common Stock 61,000 Accrued Expenses 10,000 Dividends 12,000 Prepaid Expenses 14,600 Unearned Revenue 5,600 Retained earnings 91,000 Salaries Expense 12,000 Amortization/Depreciation Expense 6,000 Accounts Receivable 54,000 Salaries Payable 17,000 Inventory 46,000 Tax Rate 30% Cost of Goods Sold 102,000 Preferred Stock 30,000 Bank Loan (Long Term) 20,000 Revenues/Sales 255,000 Rent expense 89,000 8,000 Plant and equipment (Original cost) Notes Payable (Short 10,000 Term) 5000 Long-term Notes Payable Numeric Response
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