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The following items and amounts were taken from Cullumber Companys 2022 income statement and balance sheet, the end of its first year of operations. Interest
The following items and amounts were taken from Cullumber Companys 2022 income statement and balance sheet, the end of its first year of operations.
Interest expense | $ 2,000 | Equipment, net | $ 56,400 | |||
Interest payable | 550 | Depreciation expense | 3,800 | |||
Notes payable | 12,400 | Supplies | 4,800 | |||
Sales revenue | 54,300 | Common stock | 20,200 | |||
Cash | 2,700 | Retained earnings | ? | |||
Salaries and wages expense | 16,800 | Supplies expense | 950 |
In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Expense Interest expense Liability Interest payable Liability Notes payable Revenue Sales revenue Asset Cash Expense Salaries and wages expense Asset Equipment, net Expense Depreciation expense Asset Supplies Stockholders' Equity Common stock Stockholders' Equity Retained earnings Expense Supplies expense e Textbook and Media List of Accounts Attempts: 1 of 3 used Prepare an income statement for Cullumber Company for December 31, 2022. Cullumber Company Income Statement $ e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit
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