Course Content / Module 2 / ACC520 Module 2 Exercises and Problems - Chapter 2 (part 1) ACC520 Module 2 Exercises and Problems - Chapter 2 (part 1) Constructing Financial Statements from Account Data Barth Company reports the following year-end account balances at December 31, 2019. Prepare the 2019 income statement and the balance sheet as of December 31, 2019. Accounts payable Accounts receivable Bonds payable, long-term Buildings Cash Common stock Cost of goods sold Equipment Sales revenue Barth Company Income Statement For Year Ended December 31, 2019 Expenses Cost of goods sold Wages expense Supplies expense Total expenses $ 16,000 30,000 200,000 Goodwill 151,000 Retained earnings 148,000 Sales revenue Net income 150,000 Supplies inventory 180,000 Supplies expense 70,000 Wages expense 180,000 40,000 6,000 Inventory $36,000 Land 80,000 8,000 160,000 500,000 3,000 6,000 40,000 $ 500,000 $ 226,000 274,000

Constructing Financial Statements from Account Data Barth Company reports the following year-end account balances at December 31, 2019. Prepare the 2019 income statement and the balance sheet as of December 31, 2019