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Using the information below, provide the following: Ending total assets: Ending total liabilities: Ending total equity reporting on the balance sheet (hint: accounting equation): Net
Using the information below, provide the following:
Ending total assets:
Ending total liabilities:
Ending total equity reporting on the balance sheet (hint: accounting equation):
Net income:
Current ratio (round to the second decimal point):
Account | Balance |
Common Stock | 20,000 |
Cash | 6,750 |
Accounts Payable | 2,300 |
Sales | 15,000 |
Wages Expense | 3,400 |
Retained Earnings | 2,300 |
Notes Payable (Long Term Debt) | 35,000 |
Equipment, net of depreciation | 40,000 |
Prepaid Insurance | 4,800 |
Unearned Revenue | 2,000 |
Inventory | 8,900 |
Interest Expense | 750 |
Cost of Goods Sold | 7,800 |
Rent Expense | 1,200 |
Accounts Receivable | 3,000 |
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