nuicial Statements of Kurtzel Company. Homework KURTZEL COMPANY Comparative Balance Sheets December 31 cise 12-3 cise 12-8 2-2 2014 $ 83,440 47,680 66,752 143,040 (76,288) (57,216) 2013 Cash Accounts receivable 2-10 2-13 2-3A 2-4A 2-7A (Pa nventory Property, plant, and equipment Accumulated depreciation $47,680 33,376 47,680 185,952 $264,624$25742 iabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total ults by Study $ 45,296$ 35,760 19,072 78,672 33,376 90,592 $264,624 $257,472 16,688 40,528 42,912 119,200 KURTZEL COMPANY Income Statement For the Year Ended December 31, 2014 $576,928 417,200 159,728 Sales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $42,912 14,304 57,216 102,512 7,152 95,360 19,072 s 76,288 Additional data: 1. Depreciation expense was $41,720. 2. Dividends declared and paid were $47,680. 3. During the year equipment was sold for $20,264 cash. This equipment cost $42 912orioin all nuicial Statements of Kurtzel Company. Homework KURTZEL COMPANY Comparative Balance Sheets December 31 cise 12-3 cise 12-8 2-2 2014 $ 83,440 47,680 66,752 143,040 (76,288) (57,216) 2013 Cash Accounts receivable 2-10 2-13 2-3A 2-4A 2-7A (Pa nventory Property, plant, and equipment Accumulated depreciation $47,680 33,376 47,680 185,952 $264,624$25742 iabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total ults by Study $ 45,296$ 35,760 19,072 78,672 33,376 90,592 $264,624 $257,472 16,688 40,528 42,912 119,200 KURTZEL COMPANY Income Statement For the Year Ended December 31, 2014 $576,928 417,200 159,728 Sales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $42,912 14,304 57,216 102,512 7,152 95,360 19,072 s 76,288 Additional data: 1. Depreciation expense was $41,720. 2. Dividends declared and paid were $47,680. 3. During the year equipment was sold for $20,264 cash. This equipment cost $42 912orioin all