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The current sections of Buffalo Corp's balance sheets at December 31, 2021 and 2022, are presented here. Buffalo Corp's net income for 2022 was
The current sections of Buffalo Corp's balance sheets at December 31, 2021 and 2022, are presented here. Buffalo Corp's net income for 2022 was $190,500. Depreciation expense was $31.500. 2022 2021 Current assets Cash $46,500 $66,750 Accounts receivable 63,750 51,750 Inventory 58.500 46,500 Prepaid expenses 12,750) 14,250 Total current assets $181,500 $179,250 Current liabilities Accrued expenses payable $4,500 $12,000 Accounts payable 66,000 54,000 Total current liabilities $70,500 $66,000
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