4) XYZ Company reports the following accounts and balances at December 31, 2022: Accounts Payable $22,800...

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4) XYZ Company reports the following accounts and balances at December 31, 2022: Accounts Payable $22,800 Accounts Receivable 18,800 Cash 24,400 Land 82,400 Machine 129,200 Merchandise Inventory 63,600 Long-term Note Payable 79,200 Short-term Note Payable 14,400 Paid-in Capital 200,000 Retained Earnings ? Sales Revenue 122,000 Cost of Goods Sold 80,000 Operating Expenses 40,000 i) (10 points) Prepare a balance sheet at December 31, 2022. ii) (8 points) Prepare an income statement for the year ended December 31, 2022. 4) XYZ Company reports the following accounts and balances at December 31, 2022: Accounts Payable $22,800 Accounts Receivable 18,800 Cash 24,400 Land 82,400 Machine 129,200 Merchandise Inventory 63,600 Long-term Note Payable 79,200 Short-term Note Payable 14,400 Paid-in Capital 200,000 Retained Earnings ? Sales Revenue 122,000 Cost of Goods Sold 80,000 Operating Expenses 40,000 i) (10 points) Prepare a balance sheet at December 31, 2022. ii) (8 points) Prepare an income statement for the year ended December 31, 2022.

Answer rating: 100% (QA)

i Balance Sheet at December 31 2022 XYZ Company Balance Sheet December 31 2022 Assets Cash 24400 Ac... View the full answer