The account balances for a company are listed below. All balances are as of December 31,...

 

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The account balances for a company are listed below. All balances are as of December 31, 2021, except where noted otherwise. Account Balance Account Balance Accounts Payable $10,800 Rent Expense $4,500 Accounts Receivable 12,600 Equipment 111,750 Wages Payable Prepaid Expenses Dividends Sales Revenue Notes Payable (due 4/30/22) Cost of Goods Sold 5,100 Furniture 24,900 750 Notes Payable (due 12/31/23) 61,350 3,000 Accumulated Depreciation 12,000 149,775 Cash 21,000 1,500 Common Stock: 30,000 73,200 Goodwill 15,000 Loss on Sale of Equipment Inventory 8,250 Retained Earnings (1/1/21) 24,225 14,250 Marketable Equity Securities 450 Advertising Expense 3,750 Depreciation Expense 1,650 3,000 Unearned Revenue 3,300 Insurance Expense Determine Income from Operations for 2021: The account balances for a company are listed below. All balances are as of December 31, 2021, except where noted otherwise. Account Balance Account Balance Accounts Payable $10,800 Rent Expense $4,500 Accounts Receivable 12,600 Equipment 111,750 Wages Payable Prepaid Expenses Dividends Sales Revenue Notes Payable (due 4/30/22) Cost of Goods Sold 5,100 Furniture 24,900 750 Notes Payable (due 12/31/23) 61,350 3,000 Accumulated Depreciation 12,000 149,775 Cash 21,000 1,500 Common Stock: 30,000 73,200 Goodwill 15,000 Loss on Sale of Equipment Inventory 8,250 Retained Earnings (1/1/21) 24,225 14,250 Marketable Equity Securities 450 Advertising Expense 3,750 Depreciation Expense 1,650 3,000 Unearned Revenue 3,300 Insurance Expense Determine Income from Operations for 2021:

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Answer Firstly to determine the income from operatio... View the full answer