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Southwest Company Balance Sheet and Income Statement For the Years Ending December 3 1 , 2 0 2 0 and 2 0 1 9 2
Southwest Company Balance Sheet and Income Statement For the Years Ending December and Current Assets Cash $ $ Accounts Receivable Inventory Total Current Assets Fixed Assets Less: Accum. Depreciation TOTAL ASSETS $ $ Current Liabilities Accounts Payable $ $ Wages Payable Income Tax Payable Total Current Liabilities Long Term Bonds Payable TOTAL LIABILITIES Owners Equity Common Stock $ par Retained Earnings TOTAL LIAB. & OWNERS EQUITY $ $ INCOME STATEMENT Sales all credit sales $ $ Less: COGS Gross Margin Less: Operating Expenses Loss on Sale of Fixed Assets Net Income Before Taxes Less: Income Taxes NET INCOME $ $ ADDITIONAL INFORMATION: Sold a fixed asset with an original cost of $ and accumulated depreciation of $ and purchased a new fixed asset for cash. Cash Flow from Financing in is: Select one: a$ b$ c$ d$
Southwest Company
Balance Sheet and Income Statement
For the Years Ending December and
Current Assets
Cash $ $
Accounts Receivable
Inventory
Total Current Assets
Fixed Assets
Less: Accum. Depreciation
TOTAL ASSETS $ $
Current Liabilities
Accounts Payable $ $
Wages Payable
Income Tax Payable
Total Current Liabilities
Long Term Bonds Payable
TOTAL LIABILITIES
Owners Equity
Common Stock $ par
Retained Earnings
TOTAL LIAB. & OWNERS EQUITY $ $
INCOME STATEMENT
Sales all credit sales $ $
Less: COGS
Gross Margin
Less: Operating Expenses
Loss on Sale of Fixed Assets
Net Income Before Taxes
Less: Income Taxes
NET INCOME $ $
ADDITIONAL INFORMATION: Sold a fixed asset with an original cost of $ and accumulated depreciation of $ and purchased a new fixed asset for cash.
Cash Flow from Financing in is:
Select one:
a$
b$
c$
d$
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