Question 11 Financial Statement Problem (Advanced) -- Rogers Tru-Make Manufacturing Co

Rogers Tru-Make Manufacturing Co.

Cash $6,609

Accounts Payable $5,200

Ending FGI $5,049

Notes Payable $2,150

Pre-Paid Expenses $90

Ending WIP Inventory $1,325

Buildings and Equipment $12,500

Land $6,000

Ending Materials Inventory $2,000

Office Maintenance $75

Utilities $57

Mortgage Payable $4,700

Retained Earning (Ending) ?

Retained Earning at Beginning of Period $12,200

Rent $722

Discounts on Notes Payable $175

Accounts Receivable $7199

Treasury Stock $750

Net Sales $28,455

Accumulated Depreciation $3,750

Allowance for Doubtful Accounts $800

Beginning FGI $3,900

Depreciation Expense $725

Interest Expense $130

Short Term Marketable Securities $250

Income Tax Expense $1448

Wages Payable $22

Wages Expense $2,100

Cost of Good Manufactured $19,222

Dividends Payable $1,500

Dividends Declared $1,500

Common Stock $8,000

Indicated above is accounting information for Rogers Tru-Make Manufacturing Co as of the period ending December 31, 2017. All information shown is in $000. Using the information shown above please develop a Balance Sheet and Income Statement for the period ending December 31, 2017.