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Please answer 1-3 The classified balance sheet and selected income statement data for Updike, Inc., as of December 31, 2018, are presented next. (Click the
Please answer 1-3
The classified balance sheet and selected income statement data for Updike, Inc., as of December 31, 2018, are presented next. (Click the icon to view the classified balance sheet.) (Click the icon to view the selected income statement data.) Data table Data table Selected Income Statement Data 256,400 157,600 Updike, Inc. Balance Sheet December 31, 2018 Current liabilities: : $ 7,200 Accounts payable 14,900 Salaries payable 500 Uneamed service revenue Gross profit .....$ Operating expenses Earnings before interest and taxes .... Interest expense Current assets: 98,800 Cash $ 1,100 17.300 Accounts receivable 2.400 Income tax expense 25.900 Net income 55,600 Supplies Prepaid rent 18,400 8,000 3,600 Note payable Total current assets 26,200 Total current liabilities 29.900 Print Done Fixed assets: : Land 15.000 Long-term debt: -: 80,000 Mortgage note payable Bonds payable Total long-term debt $ 100,000 Equipment 35,000 Less: Accumulated 115,000 11,000 depreciation, equipment 24,000 The classified balance sheet and selected income statement data for Updike, Inc., as of December 31, 2018, are presented next. (Click the icon to view the classified balance sheet.) (Click the icon to view the selected income statement data.) Data table Data table Selected Income Statement Data 256,400 157,600 Updike, Inc. Balance Sheet December 31, 2018 Current liabilities: : $ 7,200 Accounts payable 14,900 Salaries payable 500 Uneamed service revenue Gross profit .....$ Operating expenses Earnings before interest and taxes .... Interest expense Current assets: 98,800 Cash $ 1,100 17.300 Accounts receivable 2.400 Income tax expense 25.900 Net income 55,600 Supplies Prepaid rent 18,400 8,000 3,600 Note payable Total current assets 26,200 Total current liabilities 29.900 Print Done Fixed assets: : Land 15.000 Long-term debt: -: 80,000 Mortgage note payable Bonds payable Total long-term debt $ 100,000 Equipment 35,000 Less: Accumulated 115,000 11,000 depreciation, equipment 24,000Step by Step Solution
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