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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 |
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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