need this with table values Required information Problem 9 24A (Static) Comprehensive single cycle problem LO 9 1, 9 2, 9 4, 9 5 Skip to question The following information applies to the questions displayed below The following transactions apply to Park Co for Year 1 Received $50,000 cash from the issue of common stock Purchased inventory on account for $180,000 Sold inventory for $250,000 cash that had cost $140,000 Sales tax was collected at the rate of 5 percent on the inventory sold Borrowed $50,000 from First State Bank on March 1, Year 1 The note had a 7 percent interest rate and a one year term to maturity Paid the accounts payable (see transaction 2) Paid the sales tax due on $190,000 of sales Sales tax on the other $60,000 is not due until after the end of the year Salaries for the year for one employee amounted to $46,000 Assume the Social Security tax rate is 6 percent and the Medicare tax rate is 1 5 percent Federal income tax withheld was $5,300 Paid $5,800 for warranty repairs on account during the year Paid $36,000 of other operating expenses during the year Paid a dividend of $2,000 to the shareholders Adjustments The products sold in transaction 3 were warranted Park estimated that the warranty cost would be 3 percent of sales Record the accrued interest at December 31, Year 1 Record the accrued payroll tax at December 31, Year 1 Assume no payroll taxes have been paid for the year and that the unemployment tax rate is 6 percent (federal unemployment tax rate is 0 6 percent and the state unemployment tax rate is 5 4 percent on the first $7,000 of earnings per employee) Problem 9 24A (Static) Part b b Prepare an income statement, statement of changes in stockholders equity, balance sheet, and statement of cash flows for Year 1 (Statement of Changes in Stockholders Equity and Statement of Cash Flows only Items to be deducted must be indicated with a minus sign Round your answers to nearest whole dollar amount )

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need this with table values: Required information Problem 9-24A (Static) Comprehensive single-cycle problem LO 9-1, 9-2, 9-4, 9-5 Skip to question [The following information applies

need this with table values: Required information

Problem 9-24A (Static) Comprehensive single-cycle problem LO 9-1, 9-2, 9-4, 9-5

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[The following information applies to the questions displayed below.] The following transactions apply to Park Co. for Year 1:

Received $50,000 cash from the issue of common stock.
Purchased inventory on account for $180,000.
Sold inventory for $250,000 cash that had cost $140,000. Sales tax was collected at the rate of 5 percent on the inventory sold.
Borrowed $50,000 from First State Bank on March 1, Year 1. The note had a 7 percent interest rate and a one-year term to maturity.
Paid the accounts payable (see transaction 2).
Paid the sales tax due on $190,000 of sales. Sales tax on the other $60,000 is not due until after the end of the year.
Salaries for the year for one employee amounted to $46,000. Assume the Social Security tax rate is 6 percent and the Medicare tax rate is 1.5 percent. Federal income tax withheld was $5,300.
Paid $5,800 for warranty repairs on account during the year.
Paid $36,000 of other operating expenses during the year.
Paid a dividend of $2,000 to the shareholders.

Adjustments:

The products sold in transaction 3 were warranted. Park estimated that the warranty cost would be 3 percent of sales.
Record the accrued interest at December 31, Year 1.
Record the accrued payroll tax at December 31, Year 1. Assume no payroll taxes have been paid for the year and that the unemployment tax rate is 6 percent (federal unemployment tax rate is 0.6 percent and the state unemployment tax rate is 5.4 percent on the first $7,000 of earnings per employee).

Problem 9-24A (Static) Part b

b. Prepare an income statement, statement of changes in stockholders equity, balance sheet, and statement of cash flows for Year 1. (Statement of Changes in Stockholders Equity and Statement of Cash Flows only: Items to be deducted must be indicated with a minus sign. Round your answers to nearest whole dollar amount.)