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LTY Foods provides food delivery services to construction sites. At the end of the year, the company reports the following amounts: Service revenue $425,000 Salaries
LTY Foods provides food delivery services to construction sites. At the end of the year, the company reports the following amounts: Service revenue $425,000 Salaries payable $7,250 Accounts payable 20,000 Cash 15,000 Food truck 125,000 Garage/Office 125,000 Salaries expense 175,000 Food expense 180,000 Paper supplies 250 Maintenance expense 19,000 Paper supplies used 1,000 Note payable 100,000 In addition, the company had common stock of $50,000 at the beginning of the year and issued an additional $15,000 of stock during the year. The company also had retained earnings of $23,000 at the beginning of the year and did not declare any dividends during the year. 23. $ 24. $ 25. $ 26.$ 27. $ 28. $ Determine Net Income Determine ending Common Stock Determine ending Retained Earnings Determine Total Assets Determine Total Liabilities Determined Total Stockholders' Equity
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