Messenger MUTED X 301 Mid Fall2021 X O Mail - Zunaid CX Search Results X Dashboard buXX C Exercise 15-6 Lin X M Inbox (1,417) - ZX M Spreadsheet shax + O8 https://drive.google.com/file/d/1sH3sG-jRjCuKY3DcukiaNq4iH7EWPvF5/view 90% Q Search Q3: Condensed financial data of Motin Corporation Ltd for 2020 and 2019 are presented below. (15 Marks) Motin Corporation Ltd Comparative Balance Sheet As of December 31, 2020 and 2019 2020 2019 Cash 1900 1250 Receivables 1750 1300 Inventory Icon 1600 1900 Plant assets 1000 1900 1700 Accumulated depreciation (1170) 1300 1420 7250 6400 Accounts payable 1300 1000 Accrued liabilities 200 250 Bonds payable 1400 1550 Common stock 1900 1700 Retained earnings 2450 1900 7250 6400 (1200 Motin Corporation Itd Income Statement For the Year Ended December 31, 2020 Sales revenue 6900 Cost of goods sold 4700 Gross margin 2200 Selling and administrative expense 930 Income from operations 1270 Other income and gains 80 Gain on sale of investments Income before tax 1350 Income tax expense 540 Net income 810 Cash dividends 260 Retained earnings in business 550 Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020. H Type here to search BI o 87F Haze COM 2:38 PM 11/24/2021 Messenger MUTED X 301 Mid Fall2021 X O Mail - Zunaid CX Search Results X Dashboard buXX C Exercise 15-6 Lin X M Inbox (1,417) - ZX M Spreadsheet shax + O8 https://drive.google.com/file/d/1sH3sG-jRjCuKY3DcukiaNq4iH7EWPvF5/view 90% Q Search Q3: Condensed financial data of Motin Corporation Ltd for 2020 and 2019 are presented below. (15 Marks) Motin Corporation Ltd Comparative Balance Sheet As of December 31, 2020 and 2019 2020 2019 Cash 1900 1250 Receivables 1750 1300 Inventory Icon 1600 1900 Plant assets 1000 1900 1700 Accumulated depreciation (1170) 1300 1420 7250 6400 Accounts payable 1300 1000 Accrued liabilities 200 250 Bonds payable 1400 1550 Common stock 1900 1700 Retained earnings 2450 1900 7250 6400 (1200 Motin Corporation Itd Income Statement For the Year Ended December 31, 2020 Sales revenue 6900 Cost of goods sold 4700 Gross margin 2200 Selling and administrative expense 930 Income from operations 1270 Other income and gains 80 Gain on sale of investments Income before tax 1350 Income tax expense 540 Net income 810 Cash dividends 260 Retained earnings in business 550 Additional information: During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020. H Type here to search BI o 87F Haze COM 2:38 PM 11/24/2021