Prepare a balance sheet at December 31, 2017, for Culver Corporation.

Cash		$ 201,180
Sales				$ 8,104,150
Debt Investments (trading) (cost, $145,000)		157,150
Cost of Goods Sold		4,800,000
Debt Investments (long-term)		303,180
Equity Investments (long-term)		281,180
Notes Payable (short-term)				94,150
Accounts Payable				459,150
Selling Expenses		2,004,150
Investment Revenue				67,230
Land		264,150
Buildings		1,044,180
Dividends Payable				140,180
Accrued Liabilities				100,150
Accounts Receivable		439,150
Accumulated Depreciation-Buildings				152,000
Allowance for Doubtful Accounts				29,150
Administrative Expenses		904,230
Interest Expense		215,230
Inventory		601,180
Gain (extraordinary)				84,230
Notes Payable (long-term)				904,180
Equipment		604,150
Bonds Payable				1,004,180
Accumulated Depreciation-Equipment				60,000
Franchises		160,000
Common Stock ($5 par)				1,004,150
Treasury Stock		195,150
Patents		195,000
Retained Earnings				82,180
Paid-in Capital in Excess of Par				84,180
Totals		$12,369,260		$12,369,260

Prepare a balance sheet at December 31, 2017, for Culver Corporation.

Answer rating: 100% (QA)

Income statement Sales 8104150 Less COGS 4800000 GP 33... View the full answer