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The following information is provided for Carl's Classic Cars Ltd. Credit Carl's Classic Cars Ltd. Adjusted Trial Balance December 31, 2020 Debit Cash $3,000 Accounts
The following information is provided for Carl's Classic Cars Ltd. Credit Carl's Classic Cars Ltd. Adjusted Trial Balance December 31, 2020 Debit Cash $3,000 Accounts receivable 153,000 Prepaid Insurance 8,000 Inventory 338,000 Land 393,000 Buildings 493,000 Accumulated depreciation, buildings Accounts payable Salaries payable Bank Loan payable Common shares Retained earnings 100 000 $123,250 53,000 13,000 753,000 253,000 74,075 338,000 393,000 493,000 Inventory Land Buildings Accumulated depreciation, buildings Accounts payable Salaries payable Bank Loan payable Common shares Retained earnings Dividends declared Sales revenue $123,250 53,000 13,000 753,000 253,000 74,075 100,000 973,000 Cost of goods sold Depreciation expense Income tax expense General and administrative expense Total 503,000 12,325 123,000 116,000 $2,242,325 $2,242,325 Additional Information $100,000 Dividends were declared and paid during the year $100,000 of Common shares were issued $150,000 of the bank loan is due in 2021 Using the above adjusted trial balance, calculate the following balances. Enter your answer in the following format: $xxx.xxx Do not enter decimals. For example five thousand is entered as $5,000. 1. Net Income 2. Property. Plant and Equipment 3. Current Liabilities 4. Non-Current Liabilities 5. Current Assets 4. Non-Current Liabilities 5. Current Assets Blank # 1 Blank # 2 Blank # 3 Blank #4 A/ Blank # 5
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