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The following trial balance has been prepared from Crown Company's general ledger on December 31, 2019. Use this information to prepare an income statement, the
The following trial balance has been prepared from Crown Company's general ledger on December 31, 2019. Use this information to prepare an income statement, the statement of retained earnings, and a balance sheet for the fiscal year ended December 31, 2019. 14,138 19,242 3,802 14,012 10,153 24 89,592 967 2,144 7,962 329 7,879 Accounts payable Accounts receivable Accumulated depreciation Additional paid-in capital Cash and cash equivalents Common stock Cost of products sold Depreciation & amortization expense Gain on sale of short-term investment Income tax expense Intangible assets Interest expense Inventory Long-term debt Long-term investments Notes payable and short-term borrowings Other accrued liabilities Other current assets Other long-term liabilities Other operating expenses Property, plant and equipment Research & development costs Retained earnings Salaries and wages payable Sales Selling and general administrative expense Short-term investments Unearned revenues 7,676 14,270 10,176 18,179 14,361 13,774 356 43,173 3,543 16,642 4,159 117.994 13,104 6,287 Total debits and credits 227,168 227.168
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