The following example pertains to Bluefield Company for 2005.

Cash received from customers during 2005$140,000

Cash received from tenants during 2005 56,000

Cash paid for salaries during 2005 43,000

Cash paid for income taxes during 2005 23,000

Cash paid to suppliers during 2005 78,000

Jan. 1Dec. 31

Accounts receivable$5,000$9,000

Accounts payable11,000 7,000

Income tax payable 7,000 3,000

Inventory14,00020,000

Prepaid salaries 4,000 2,000

Unearned rent revenue 1,000 6,000

Instructions

Compute the amount of each of the following items for 2005 on the accrual basis.

1. Sales

2. Rent revenue

3. Salaries expense

4. Income tax expense

5. Cost of goods sold