Question: 125% EB A View Zoom Add Category Pivot Table Insert Table Chart Text Shape Media Comment Collaborate Format Organize Sheet1 Sheet Sheet Name Sheet1 Balance

125% EB A View Zoom Add Category Pivot Table
125% EB A View Zoom Add Category Pivot Table Insert Table Chart Text Shape Media Comment Collaborate Format Organize Sheet1 Sheet Sheet Name Sheet1 Balance Sheet Income Statement 12/31/22 12/31/21 12/31/22 12/31/21 2022 Cash 38 24 Accts Payable 71 51 SALES 305 Background Accts Receivable 67 61 Salaries Payable 7 COGS 220 Inventory 75 66 Taxes Payable 11 8 Gross Margin 85 Prepaid Expenses 12 14 Other Payables 3 Salary Expense 23 Rent Expense 13 Duplicate Sheet PPE 137 130 Long Term Bonds 82 84 SG&A Expense 9 Accum Dep'n 21) 19) Total Liabilities 172 164 Depreciation Expense Delete Sheet Common Stock 48 40 Amortization Expense Intangibles 12 15 Retained Earnings 100 87 Operating Income Total Equity 148 127 Plus: Gain on Sale of PPE Less: Interest Expense TOTAL ASSETS 320 291 TOTAL LIABS & EQUITY 320 291 Taxable Income Less: Tax Expense NET INCOME 2 2 Additional Details -During the year, Equipment once purchased for $4 with $3 of Accumulated Depreciation was sold for $2, creating a $1 Gain

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!