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The following trial balance was drawn from the records of Zachary Company as of October 1, year 2. Cash Accounts receivable Inventory Store equipment
The following trial balance was drawn from the records of Zachary Company as of October 1, year 2. Cash Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earnings Totals $ 25,500 79,000 49,500 390,000 $ 80,600 81,500 290,000 69,000 22,900 $ 544,000 $ 544,000 Required b. Supply the missing information in the following pro forma income statement and balance sheet for the fourth quarter of year 2. The statements are prepared as of December 31, year 2. Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Supply the missing information in the following pro forma income statement for the fourth quarter of year 2. The statement is prepared as of December 31, year 2. Income Statement Sales revenue Cost of goods sold Gross margin 822,535 Operating expenses Operating income Interest expense Net income 608,287 (3,480) $ 604,807 Income Statement Balance Sheet Supply the missing information in the following pro forma balance sheet for the fourth quarter of year 2. The statement is prepared as of December 31, year 2. Note: Amounts to be deducted should be indicated by a minus sign. Round your answers to the nearest whole dollar. Assets Cash Accounts receivable Inventory Store equipment Balance Sheet Accumulated depreciation store equipment Book value of equipment Total assets Liabilities Accounts payable Utilities payable Sales commissions payable Line of credit Equity Common stock Retained earnings Total liabilities and equity $ 390,000 $ 10,710 302,800 $ 666,074 (65,553) 69,000 $ 666,074 < Income Statement Balance Sheet
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