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The following items are taken from the financial statements of Monty Company for the year ending December 31, 2022: Accounts payable $17,500 Accounts receivable 7,200

The following items are taken from the financial statements of Monty Company for the year ending December 31, 2022:

Accounts payable $17,500
Accounts receivable 7,200
Accumulated depreciationequipment 4,600
Bonds payable 20,000
Cash 24,400
Common stock 25,300
Cost of goods sold 28,700
Depreciation expense 5,700
Dividends 5,500
Equipment 40,500
Interest expense 2,200
Patents 7,575
Retained earnings, January 1, 2022 8,725
Salaries and wages expense 6,300
Sales revenue 55,000
Supplies 3,050

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MONTY COMPANY Income Statement For the Year Ended December 31, 2022 Sales Revenue 55,000 Cost of Goods Sold 28,700 Gross Profit 26,300 Dividends Depreciation Expense 5,700 Salaries and Wages Expense [ 6,300 1 Operating Expenses 12,000

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