:Question Help Barker, Inc. has the following balance sheet at December 31, 2018: Prepare a budgeted balance sheet for Barker, Inc. for December 31, 2019. (Hint: It may be helpful to trace the effects of each transaction on the accounting equation to determine the ending balance of each account.) EEB (Click the icon to view the balance sheet.) Barker projects the following transactions for 2019 (Click the icon to view the transactions.) - X Data Table More Info Begin by completing the accounting equation for the 2019 transactions. (Use a minus sign or parentheses to enter account reductions and FG Inv. Equip Cash A/R RM Inv (A/D) A/P CS RE + + Barker, Inc. Sales on account, $20,000 Dec. 31, 2018 + + + + + Balance Sheet Cash receipts from customers from sales on account, $17,600 Sales on acct + Purchase of raw materials on account, $7,000 December 31, 2018 Payments on account, $3,500 Cash recpts. = + Assets Total cost of completed products, $16,600, which includes the following: Purch. RM + + + + Current Assets: Raw materials used, $7,100 Pmts on acct 2,400 Cash Direct labor costs incurred and paid, $3,900 + + + Manufacturing overhead costs incurred and paid, $4,800 RM used Accounts Receivable 1,400 Depreciation on manufacturing equipment, $800 Raw Materials Inventory + 500 Direct labor + + Cost of goods sold, $14,800 1,350 Finished Goods Inventory Mfg. OH Selling and administrative costs incurred and paid, $500 + Purchase of equipment, paid in 2019, $2,000 Total Current Assets $ 5,650 Depr. + + + Property, Plant, and Equipment: COGS + + Equipment 16,000 Print Done S and A (1,500) 14,500 Less: Accumulated Depreciation Purch. equip $ 20,150 Total Assets Dec. 31, 2019 Liabilities Prepare a budgeted balance sheet for Barker, Inc. for December 31, 2019. Current Liabilities: Accounts Payable 1,000 Barker, Inc. Stockholders' Equity Budgeted Balance Sheet Common Stock, no par 6,500 December 31, 2019 12,650 Assets Retained Earnings 19,150 Total Stockholders' Equity Choose from any list or enter any number in the input fields and then continue to the next question. 20,150 Barker, Inc. Budgeted Balance Sheet December 31, 2019 Assets Current Assets: Total Current Assets Property, Plant, and Equipment Total Assets Liabilities Current Liabilities: Stockholders' Equity Total Stockholders Equity Total Liabilities and Stockholders' Equity :Question Help Barker, Inc. has the following balance sheet at December 31, 2018: Prepare a budgeted balance sheet for Barker, Inc. for December 31, 2019. (Hint: It may be helpful to trace the effects of each transaction on the accounting equation to determine the ending balance of each account.) EEB (Click the icon to view the balance sheet.) Barker projects the following transactions for 2019 (Click the icon to view the transactions.) - X Data Table More Info Begin by completing the accounting equation for the 2019 transactions. (Use a minus sign or parentheses to enter account reductions and FG Inv. Equip Cash A/R RM Inv (A/D) A/P CS RE + + Barker, Inc. Sales on account, $20,000 Dec. 31, 2018 + + + + + Balance Sheet Cash receipts from customers from sales on account, $17,600 Sales on acct + Purchase of raw materials on account, $7,000 December 31, 2018 Payments on account, $3,500 Cash recpts. = + Assets Total cost of completed products, $16,600, which includes the following: Purch. RM + + + + Current Assets: Raw materials used, $7,100 Pmts on acct 2,400 Cash Direct labor costs incurred and paid, $3,900 + + + Manufacturing overhead costs incurred and paid, $4,800 RM used Accounts Receivable 1,400 Depreciation on manufacturing equipment, $800 Raw Materials Inventory + 500 Direct labor + + Cost of goods sold, $14,800 1,350 Finished Goods Inventory Mfg. OH Selling and administrative costs incurred and paid, $500 + Purchase of equipment, paid in 2019, $2,000 Total Current Assets $ 5,650 Depr. + + + Property, Plant, and Equipment: COGS + + Equipment 16,000 Print Done S and A (1,500) 14,500 Less: Accumulated Depreciation Purch. equip $ 20,150 Total Assets Dec. 31, 2019 Liabilities Prepare a budgeted balance sheet for Barker, Inc. for December 31, 2019. Current Liabilities: Accounts Payable 1,000 Barker, Inc. Stockholders' Equity Budgeted Balance Sheet Common Stock, no par 6,500 December 31, 2019 12,650 Assets Retained Earnings 19,150 Total Stockholders' Equity Choose from any list or enter any number in the input fields and then continue to the next question. 20,150 Barker, Inc. Budgeted Balance Sheet December 31, 2019 Assets Current Assets: Total Current Assets Property, Plant, and Equipment Total Assets Liabilities Current Liabilities: Stockholders' Equity Total Stockholders Equity Total Liabilities and Stockholders' Equity