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Presented here are the financial statements of Sandhill Company. Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Liabilities and Stockholders' Equity
Presented here are the financial statements of Sandhill Company. Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Sandhill Company Comparative Balance Sheets December 31 Total ales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations 2025 $ 84,000 $43,200 48,000 14,400 67,200 48,000 187,200 (76,800) (57,600) $266,400 $259,200 144,000 $45,600 16,800 Sandhill Company Income Statement For the Year Ended December 31, 2025 40,800 43,200 $266,400 120,000 $ 48,000 $36,000 $580,800 2024 420,000 160,800 33,600 57,600 103,200 $259,200 19,200 79,200 33,600 91,200 Presented here are the financial statements of Sandhill Company. with eithere - sigh es -15,000 or in perenthesks est (15,000) Adiusteitents fo feconcile net income te: Additional data: 1. Depreciation expense was $42,000. 2. Dividends declared and paid were $48,000. 3. During the year, equipment was sold for $20,400 cash. This equipment originally cost $43,200 and had accumulated depreciation of $22,800 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash
Presented here are the financial statements of Sandhill Company. Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Sandhill Company Comparative Balance Sheets December 31 Total ales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations 2025 $ 84,000 $43,200 48,000 14,400 67,200 48,000 187,200 (76,800) (57,600) $266,400 $259,200 144,000 $45,600 16,800 Sandhill Company Income Statement For the Year Ended December 31, 2025 40,800 43,200 $266,400 120,000 $ 48,000 $36,000 $580,800 2024 420,000 160,800 33,600 57,600 103,200 $259,200 19,200 79,200 33,600 91,200
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