Question
Prepare income statement of this? Carla Vista Grove Hardware has the following balances in the company ledgers for the year ending December 31: Mortgage Payable
Prepare income statement of this?
Carla Vista Grove Hardware has the following balances in the company ledgers for the year ending December 31:
Mortgage Payable | $84,900 | Interest Expense | $11,300 | ||||
---|---|---|---|---|---|---|---|
Prepaid Insurance | $1,600 | Land | $29,400 | ||||
Short-term investments | $1,900 | Office salaries | $70,200 | ||||
Common Shares | $12,000 | Sales Salaries | $102,700 | ||||
Cash | $11,200 | Supplies expense | $22,800 | ||||
Advertising | $48,100 | Insurance expense | $9,300 | ||||
Accounts Receivable | $19,600 | Depreciation expense | $15,100 | ||||
Sales revenue | $603,300 | Income tax expense | $9,600 | ||||
Accounts Payable | $12,500 | Dividend Payments | $6,500 | ||||
Buildings (Net) | $102,000 | Interest Income | $19,500 | ||||
Cost of Goods Sold | $301,000 | Inventory | $24,100 | ||||
Note Payable (due in 9 months) | $11,800 | ||||||
Retained Earnings (Beg Bal-Jan 1) | $42,400 |
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