Performance Corporation was organized on January 1, 2023. At the end of 2023, the company had not yet employed an accountant; however, an employee who was "good with numbers" prepared the following statements at that date: Performance Corporation December 31, 2023 Income from sales of merchandise Total amount paid for goods sold during 2023 Selling costs Depreciation (on service vehicles used) Income from services rendered Salaries and wages paid Performance Corporation December 31, 2023 Resources Cash Merchandise inventory (held for resale) Service vehicles Retained earnings (net earnings of 2023) Grand total Debts Payable to suppliers Note owed to bank Due from customers $175,000 (90,000) (25,000) (10,000) 52,000 (62,000) $ 32,000 42,000 50,000 30,000 $154,000 $ 22,000 25,000 13,000 Page 43

Performance Corporation was organized on January 1,2023. At the end of 2023, the company had not yet employed an accountant: homever, an employce who was "good with numbers" prepared the following statenents at that date: Performance Corporation was organized on January 1,2023. At the end of 2023, the company had not yet employed an accountant: homever, an employce who was "good with numbers" prepared the following statenents at that date