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need help please 2017 $ 23,000 34.000 15,000 78,000 (24.000) $126.000 The financial statements of Costco Company appear below COSTCO COMPANY Comparative Balance Sheet December
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2017 $ 23,000 34.000 15,000 78,000 (24.000) $126.000 The financial statements of Costco Company appear below COSTCO COMPANY Comparative Balance Sheet December 31 2018 Assols Cash $ 38,000 Accounts receivable Merchandise inventory 26.000 30,000 Property, plant, and equipment Accumulated depreciation 50,000 (20.000) Total $124.000 Liabilities and Stockholders' Equity Accounts payable Income taxes payable $ 17,000 Bonds payable 13,000 Common stock 7,000 Retained eamings 41,000 Total 46.000 $124.000 COSTCO COMPANY Income Statement For the Year Ended December 31, 2018 Sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $ 23,000 8,000 33,000 24,000 38.000 $126.000 $400,000 280.000 120,000 _46.000 74,000 4,000 70,000 21,000 $ 49.000 Additional Information: The following additional data were provided: 1. Dividends declared and paid were $35,000. Common stock was issued an bonds were redeemned during the year. 2. During the year, equipment was sold for $15,000 cash. This equipment cost $28,000 originally and had a book value of $15,000 at the time of sale. 3. All depreciation expense is in the operating expenses, $9,000. 4. All sales and purchases are on account. 5. Accounts payable pertain to merchandise suppliers. 6. All operating expenses except for depreciation were paid in cash. 7. Purchased equipment during the year for $6,000 cash. Instructions Prepare the investing and financing section for Costco Company belowStep by Step Solution
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