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Movit Manufacturing has alphabetized and balance sheet entries, in thousands, from the year 2021 in the accompanying table. Click the icon to view the income
Movit Manufacturing has alphabetized and balance sheet entries, in thousands, from the year 2021 in the accompanying table. Click the icon to view the income statement and balance sheet entries. Construct an income statement and a balance sheet from the information given. First, complete the balance sheet. Start with the assets portion of the balance sheet and then the portion for the liabilities and owners' equity. Data Table \begin{tabular}{lr|} Accounts payable & $7600 \\ Accounts receivable & 15,400 \\ Accrued wages & 2700 \\ Cash & 2150 \\ Common shares & 145 \\ Contributed capital & 2850 \\ Cost of goods sold & 56,000 \\ Current assets & \\ Current liabilities & \\ Deferred income taxes & 2450 \\ Depreciation expense & 740 \\ General expense & 7950 \\ Guaranteed investment certificates & 440 \\ Income taxes & 1850 \\ Interest expense & 1580 \\ Inventories & 19,000 \\ Land & 3400 \\ Less: Accumulated depreciation & 11,150 \\ Long-term assets & \\ Long-term bonds & 4360 \\ Long-term liabilities & \\ Mortgage & 9500 \\ & \\ \hline \end{tabular} \begin{tabular}{lr} Mortgage & 9500 \\ Net income after taxes & 4720 \\ Net income before taxes & 6570 \\ Net plant and equipment & 7900 \\ Net sales & 77,500 \\ Operating expenses & \\ Owners' equity & \\ Prepaid expenses & 435 \\ Selling expenses & 4660 \\ Total assets & 48,725 \\ Total current assets & 37,425 \\ Total current liabilities & 14,900 \\ Total expenses & 14,930 \\ Total liabilities and owners' equity & 48,725 \\ Total long-term assets & 11,300 \\ Total long-term liabilities & 16,310 \\ Total owners' equity & 17,515 \\ Working capital loan & 4600 \end{tabular}
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