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need help answering 9.04, 9.05, 9.08, 9.09-9.14, attached are pics of prior info to help solve along with pictures of the questions (see last picture)
need help answering 9.04, 9.05, 9.08, 9.09-9.14, attached are pics of prior info to help solve along with pictures of the questions (see last picture)
l See The Light Projected Income Statement For the Period Ending December 31, 20x1 Sales Cost of Goods Sold Gross Profit Selling Expenses: S 1,125,000.00 750,000.00 $375,000.00 25,000 lamps$45.00 $30.00 $ 23,000.00 Fixed Variable (Commission per unit)$3.00 75,000.00 $ 98,000.00 Administrative Expenses: $ 42,000.00 Fixed Variable 50,000.0092,000.00 Total Selling and Administrative Expenses: Net Profit 190,000.00 185,000.00 1 l See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets Cash Accounts Receivable Inventory $ 34,710.00 67,500.00 Raw Material 500 $16.00 Lamp Kits Work in Process Finished Goods 8,000.00 3000 $30.00 90,000.00 200,210.00 Total Current Assets Fixed Assets $ 20,000.00 6,800.00 Equipment 13,200.00 $ 213,410.00 Total Fixed Assets Total Assets Current Liabilities $ 54,000.00 54,000.00 Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings $ 12,000.00 147.410.00 Total Stockholder's Equity Total Liabilities and Stockholder's Equity 159.410.00 213.410.00Step by Step Solution
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