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Need help correcting the ones i missed . thank you The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. $3,486,000
Need help correcting the ones i missed . thank you The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. $3,486,000 VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales Expenses: Cost of goods sold $2,300,000 Operating expenses 928,000 Depreciation expense 34,000 Loss on sale of land 8,700 Interest expense 18,500 Income tax expense 55,000 Total expenses Net income es 3,344,200 $ 141,800 VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 $ 264,020 88,700 105,000 13,680 $ 202,660 67,000 142,000 6,840 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investments Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable 112,000 217,000 284,000 (72,400) $1,007,000 @ 254,000 217,000 (43,400) $846,100 $ 72,300 $ 88,000 $ 155 Accounts Payable 20 O 2 150 Cost of Goods Sold Inventory Cash Accounts Payable 25 20 X 105 150 Cost of Goods Sold Inventory Cush Accounts Payable OO 25 OOO 20 195 4 Cost of Goods Sold Inventory Cash Accounts Payable 150 20 * * * * 25 X 145
Need help correcting the ones i missed . thank you
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