You are given the following financial statement information for Homenick Incorporated: Balance Sheet Cash 12/31/2019 12/31/2018...

  

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You are given the following financial statement information for Homenick Incorporated: Balance Sheet Cash 12/31/2019 12/31/2018 131,000 60,000 Accounts Receivable Inventory 21,400 25,250 14,100 15,800 Prepaid Expenses 3,400 2,400 Total Current Assets 169,900 103,450 Property and Equipment, net 154,000 128,000 TOTAL ASSETS 323,900 231,450 Wages Payable Bonds Payable TOTAL LIABILITIES .Net income for 12/31/2019 is $19,200 58,000 69,800 154,000 74,000 212,000 143,800 . There were no disposals of PP&E during the period. The accumulated depreciation balance was $82,000 and $96,000 at the end of 2018 and 2019, respectively. You are given the following financial statement information for Homenick Incorporated: Balance Sheet Cash 12/31/2019 12/31/2018 131,000 60,000 Accounts Receivable Inventory 21,400 25,250 14,100 15,800 Prepaid Expenses 3,400 2,400 Total Current Assets 169,900 103,450 Property and Equipment, net 154,000 128,000 TOTAL ASSETS 323,900 231,450 Wages Payable Bonds Payable TOTAL LIABILITIES .Net income for 12/31/2019 is $19,200 58,000 69,800 154,000 74,000 212,000 143,800 . There were no disposals of PP&E during the period. The accumulated depreciation balance was $82,000 and $96,000 at the end of 2018 and 2019, respectively.

Answer rating: 100% (QA)

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