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You are provided with the following information for Sunland Company, effective as of its April 30, 2022, year-end. Accounts payable $878 Accounts receivable 870
You are provided with the following information for Sunland Company, effective as of its April 30, 2022, year-end. Accounts payable $878 Accounts receivable 870 Accumulated depreciation-equipment 700 Cash 1,370 Common stock 17,600 Cost of goods sold 1,040 Depreciation expense 340 Dividends 310 Equipment 2,450 Goodwill 1,900 Income tax expense 170 Income taxes payable 140 Insurance expense 300 Interest expense 510 Inventory 1,010 Investment in land 16,720 Land 2,700 Mortgage payable (long-term) 4,500 Notes payable (short-term) 62 Prepaid insurance 60 Retained earnings (beginning) 1,800 Salaries and wages expense 650 Salaries and wages payable 220 Sales revenue 5,800 Stock investments (short-term) 1,300 Prepare an income statement for Sunland Company for the year ended April 30, 2022. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) SUNLAND COMPANY Income Statement For the Year Ended April 30, 2022
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