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Launch X WileyPLUS X *Course Hero X *Homework Help - Q&A from Onlit x + X C A edugen.wileyplus.com/edugen/Iti/main.uni WileyPLUS Kimmel, Accounting, 6e Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Bb Week 2 Homework (b) Question 1 Prepare the April 30, 2017, classified balance sheet. (List Current Assets In order of liquidity.) Question 2 Question 3 IVANHOE COMPANY Balance Sheet Review Score Review Results by Study Objective Assets $ Liabilities and Stockholders' Equity $ SHOW LIST OF ACCOUNTS OM TODD 9 75:30Launch X WileyPLUS X *Course Hero X *Homework Help - Q&A from Onlit x + X C A edugen.wileyplus.com/edugen/Iti/main.uni WileyPLUS Kimmel, Accounting, 6e Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Bb Week 2 Homework Question 1 Question 1 Ivanhoe Company, a ski tuning and repair shop, opened on November 1, 2016. The company carefully kept track of all its cash receipts and cash payments. The following information is available at the end of the ski season, April 30, 2017. Question 2 Question 3 Cash Cash Receipts Payments Review Score Issuance of common shares $20,300 Review Results by Study Payment to purchase repair shop equipment $9,150 Objective Payments to landlord ,260 Newspaper advertising payment 340 Utility bill payments 935 Part-time helper's wage payments 2,250 Income tax payment 10,500 Cash receipts from ski and snowboard repair services 31,700 Subtotals 52,000 24,435 Cash balance 27,565 Totals $52,000 $52,000 The repair shop equipment was purchased on November 1 and has an estimated useful life of 5 years. Lease payments to the landlord are made at the beginning of each month. The payments to the landlord included a security deposit of $180. The part-time helper is owed $505 at April 30, 2017, for unpaid wages. At April 30, 2017, customers owe Ivanhoe Company $440 for services they have received but have not yet paid for. (a) Your answer is partially correct. Try again. Prepare an accrual-basis income statement for the 6 months ended April 30, 2017. IVANHOE COMPANY Income Statement For the Six Months Ended April 30, 2017 Revenues Service Revenue 32130 Expenses Depreciation Expense 948 Advertising Expense 315 9 7 5:31