Question
The following is the Easton Company adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2020 Account Title Debit Credit Cash $88,665 Accounts Receivable
The following is the Easton Company adjusted Trial Balance.
Easton Company | ||
Adjusted Trial Balance | ||
December 31, 2020 | ||
Account Title | Debit | Credit |
Cash | $88,665 |
|
Accounts Receivable | 232,400 |
|
Supplies | 17,000 |
|
Merchandise Inventory | 100,000 |
|
Equipment | 295,000 |
|
Accumulated Depreciation |
| $124,260 |
Accounts Payable |
| 172,555 |
Capital Stock |
| 220,000 |
Retained Earnings |
| 127,145 |
Dividends | 9,000 |
|
Net Sales |
| 886,027 |
Cost of Goods Sold | 375,000 |
|
Rent Expense | 89,500 |
|
Wages Expense | 154,000 |
|
Supplies Expense | 12,000 |
|
Utilities Expense | 8,000 |
|
Depreciation Expense | 150,000 | ________ |
Totals | $1,530,565 | $1,530,565 |
Use this information to determine:
Total Revenue:
Gross Profit:
Total Expense:
Net Income:
Profit Margin (show as a whole number - no % sign or decimal):
HINTS: There are six expenses. Profit margin is not the same as gross profit percentage! Enter the amounts with no $ sign and no commas.
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