A set of financial statements for Rabbit Company follows: (Click to view the financial statements.) Requirement...

 

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A set of financial statements for Rabbit Company follows: (Click to view the financial statements.) Requirement Fill in the missing amounts (indicated with question marks). Requirement 1. Fill in the missing amounts. Begin by completing the income statement. Rabbit Company Income Statement For the Year Ended December 31, 2012 Sales. Cost of goods sold Gross profit on sales Administrative expenses Operating income Interest expense Income tax expense Net income Cash. Accounts receivable Inventory Equipment $ Total.. $ Now fill in the missing amounts on the balance sheet. Rabbit Company Balance Sheet At December 31, 2012 525,000 220,000 305,000 55,000 250,000 11,000 95,600 143,400 $ 1,138,200 115,000 Accounts payable $ 12,200 Note payable 45,000 966,000 Contributed capital.. Retained earnings ... Total. 13,100 10,100 650,000 A set of financial statements for Rabbit Company follows: (Click to view the financial statements.) Requirement Fill in the missing amounts (indicated with question marks). Requirement 1. Fill in the missing amounts. Begin by completing the income statement. Rabbit Company Income Statement For the Year Ended December 31, 2012 Sales. Cost of goods sold Gross profit on sales Administrative expenses Operating income Interest expense Income tax expense Net income Cash. Accounts receivable Inventory Equipment $ Total.. $ Now fill in the missing amounts on the balance sheet. Rabbit Company Balance Sheet At December 31, 2012 525,000 220,000 305,000 55,000 250,000 11,000 95,600 143,400 $ 1,138,200 115,000 Accounts payable $ 12,200 Note payable 45,000 966,000 Contributed capital.. Retained earnings ... Total. 13,100 10,100 650,000

Answer rating: 100% (QA)

Retained Earnings ... View the full answer