Requirement 1. Compute the collections from customers.

Collections from customers are $

.

Enter any number in the edit fields and then click Check Answer.

6

parts remaining

2018

2017

Income Statement

Net Sales Revenue

$24,737

$21,207

Cost of Goods Sold

18,097

15,466

Depreciation Expense

266

227

Other Operating Expenses

4,411

4,217

Income Tax Expense

531

487

Net Income

$1,432

$810

Balance Sheet

Cash

$17

$16

Accounts Receivable

799

618

Merchandise Inventory

3,481

2,829

Property, Plant, and Equipment, net

4,371

3,456

Accounts Payable

1,548

1,367

Accrued Liabilities

936

847

Long-term Liabilities

482

467

Common Stock, no par

671

440

Retained Earnings

5,031

3,798

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