NO OTHER INFORMATION IS GIVEN . I HAVE CHECK 3 TIMES,

enter answers for journal items [A] to [K]

Assets

Current Assets:

Cash $1,500,000

Accounts receivable, net 18,000

Inventory 50,000

Total current assets 1,568,000

Equipment 90,000

Goodwill 20,000

Total assets $1,678,000

Liabilities and shareholders' equity

Shareholders' equity:

Common stock, 20,000 shares outstanding, $1 par $20,000

Additional paid-in capital 280,000

Retained earnings 1,378,000

Total shareholders' equity 1,678,000

Total liabilities and shareholders' equity $1,678,000

Note that all additional paid-in capital (APIC) sub accounts (e.g., APIC-options and APIC-treasury stock), if any, are tracked in the Additional paid-in capital account on the Balance Sheet.

Please enter answers for blank journal items in the following Balance Sheet and Income Statement for 20X1. Note that for the purpose of preparing the Balance Sheet at the end of each year:

For investments, you need to classify whether they are current assets (i.e., short-term investment) or non-current assets (i.e., long-term investment);

For bonds, you need to determine what portion of the bonds payable is current liability and what portion is non-current liability. Current portion of the bonds payable is the principal payment portion of the cash interest payments in the next year. Non-current portion is the remaining amount of the bonds payable; and

For leases (as the lessee), you need to determine what portion of the lease obligation is current liability and what portion is non-current liability. Current portion of the lease obligation is the principal payment portion of the cash lease payment in the next year (i.e., the amortization amount of the lease obligation in the next year). Non-current portion is the remaining amount of the lease liability.

Illini Company, Inc.
Income Statement
For the Year Ended December 31, 20X1
Sales	$1,132,357
Cost of sales (inventory/equipment)	692,000
Gross profit	440,357
Operating expenses:
Insurance expense	4,000
Utility expense 30,000
Rent expense 20,000
Compensation expense	[A]
Bad debt expense	[B]
Depreciation expense	[C]
Maintenance expense	3,000
Warranty expense	21,000
Rental expense (lease)	[D]
Pension expense	[E]
Selling expense-Initial issuance cost	10,000
Total operating expenses	[F]
Operating income	[G]
Other income (expense):
Investment revenue	7,500
Interest revenue	9,636
Unrealized holding losses - NI	[H]
Interest expense	(22,142)
Net income	[I]
Basic EPS	[J]
Diluted EPS	[K]