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Use the following financial statements and additional information. UPPERCHURCH INCORPORATED Comparative Balance Sheets June 30, 2019 and 2018 Assets Cash Accounts receivable, net Inventory
Use the following financial statements and additional information. UPPERCHURCH INCORPORATED Comparative Balance Sheets June 30, 2019 and 2018 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity 2019 2018 $ 113,400 76,000 $ 59,200 59,000 65,000 90,000 5,000 6,200 259,400 214,400 150,000 (39,000) $ 370,400 $ 28,000 7,000 139,000 (13,000) $ 340,400 $ 34,000 18,000 4,900 5,400 39,900 57,400 35,000 70,000 74,900 127,400 250,000 180,000 45,500 $ 370,400 33,000 $ 340,400
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