We Really Love Cash, Co. We Really Love Cash, Co. Comparative Balance Sheet Income Statement December 31 For the Year ended December 31, 2020 2020 2019 Sales revenue $127,900 Assets Cost of goods sold 69,800 Cash $6,200 $4,300 Gross profit 58,100 Accounts Receivable 5,200 5,500 Operating expenses 46,900 Inventory 30,000 34,200 Income from before gain and taxes 11,200 Property, plant & equipment, net 211,500 215,300 Gain on sale of equipment 900 Total Assets $252,900 $259,300 Income tax expense 800 Net income $11,300 Liabilities and Stockholders' Equity Accounts payable $1,700 $5,900 Accrued expenses 2,000 2,200 Taxes payable 2,500 2,600 Bonds payable 60,000 50,000 Total liabilities 66,200 60,700 Common stock 125,000 125,000 Retained earnings 61,700 73,600 Total Stockholders' Equity 186,700 198,600 Total Liabilities and Stockholders' Equity $252,900 $259,300 Additional data: 1. Depreciation expense of $1,900 is included in the Operating Expenses on the Income Statement. 2. Equipment with an original cost of $35,000 was sold for $20,300. The gain on sale was $900. 3. On June 1, 2020, the company purchased new equipment for cash at a cost of $17,500. 4. The company paid $23,200 in cash dividends for the year. wemad mprovements, choco Check for a X f $11,300 ch A A) D E F We Really Love Cash, Co. Statement of Cash Flow For the year ended December 31, 2020 Cash flows from operating expenses Net Income G H In order to get full points for this projects 15 Row in hlue should accurately reflect financial content worth 1 point cach. 2 Cells in green on the temple should utiline focus worth I point each Cells in yellow show the proper format and order of the statement worth 1 point each 2 cells in Orange provides a correct response to the analysis question. 3 Total Pointe ville $11,300 ter