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Problem 1-60A (Algorithmic) Income Statement and Balance Sheet The following information for Rogers Enterprises is available at December 31, 2019, and includes all of
Problem 1-60A (Algorithmic) Income Statement and Balance Sheet The following information for Rogers Enterprises is available at December 31, 2019, and includes all of Rogers' financial statement amounts except retained earnings: Accounts receivable $72,920 Cash 13,240 Common stock (10,000 shares) 61,000 Income taxes expense 12,700 Income taxes payable 4,150 Interest expense 15,500 Notes payable (due in 10 years) 25,000 Prepaid rent (building) 31,500 Property, plant, and equipment 90,000 Rent expense 135,000 Retained earnings Salaries expense Salaries payable Service revenue Supplies Supplies expense 235,200 13,880 463,000 42,500 33,900 Required: Prepare a single-step income statement for the year ending December 31, 2019. for Rogers.
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