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Presented below are the financial statements of Wamer Company WARNER COMPANY Comparative Balance Sheet December 31 $20,000 14,000 20,000 78,000 $35,000 Accounts receivable 28,000 60,000
Presented below are the financial statements of Wamer Company WARNER COMPANY Comparative Balance Sheet December 31 $20,000 14,000 20,000 78,000 $35,000 Accounts receivable 28,000 60,000 Property, plant, and equipment Total S111,000 $108,000 abilities and Stockholders' Equit Accounts payable Income taxes payable Bonds payable Common stock Retained carnings $19,000 7,000 17,000 18,000 $15,000 8,000 33,000 14,000 38,000 $108,000 S111,000 WARNER COMPANY Income Statement For the Year Ended December 31, 2017 Sales Revenue Cost of goods sold Gross proft Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net incomc $242,000 175,000 67,000 $18,000 24,000 43,000 3,000 40,000 8,000_
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