Morland Company started year $1$ with $$360,000$ in its cash and common stock accounts. During year $1,$ Morland paid $$270,000$ cash Determine the total amount of assets and the amount of expense shown on the year $1$ financial statements assuming Morland

used the labor and materials to provide dental cleaning services to $500$ patients. State the name$($s$)$ of the expense account

shown on the income statement.

for employee compensation and $$82,800$ cash for materials.

Required

a$.$ Determine the total amount of assets and the amount of expense shown on the year $1$ financial statements assuming Morland used

the labor and materials to make $1,500$ chairs. Further, assume that Morland sold $1,200$ of the chairs it made. State the name of the

expense account$($s$)$ shown on the income statement.

b$.$ Determine the total amount of assets and the amount of expense shown on the year $1$ financial statements assuming Morland used

the labor and materials to provide dental cleaning services to $500$ patients. State the name of the expense account$($s$)$ shown on the

income statement.

Complete this question by entering your answers in the tabs below.

Required $A$

Required $B$

Determine the total amount of assets and the amount of expense shown on the year $1$ financial statements assuming Morland

used the labor and materials to make $1,500$ chairs. Further, assume that Morland sold $1,200$ of the chairs it made. State the

name$($s$)$ of the expense account shown on the income statement.