FIFO Units Unit Cost Extension $ opening Balance 3,000 $ 3,400 $ 0.60 0.72 1,800.00 2,448.00 Cost of Goods Sold 6,400 4,248.00 4) Determine the Gross Profit GROSS PROFIT $1,612.00 5) EXTRA CREDIT: WHAT IS THE INVENTORY VALUE ATJUNE 30, 2018 $2,082.00 In January 2018, Harrison Company issued 5,000 shares of its Common Stock, par value $1 for $3 per share. Complete the change in Equity for this transaction Common Stock Par Value $1, Additional Paid in Equity 7)Below is the aged AR for Harris Conmpany at 12/31/18. It determined that some of the accounts included in the aging will not be paid. It % of uncollectibles is based on past experience. DETERMINE the Allowance for Bad Debt at 12/31/18 Number of Days Past Due Total 0-30 31-60 61-90 91-120 $ 305,000 $107,000 $60,000 $50,000 $38,000 % of Uncollectibles 2% 5% 7.5% 10% over 120 $50,000 25% Estimated Bad Debt $2,140 23,000 $3,000 $3,750 $3,800 $12,500 The Bad Debt would be: | $25,190 8) On December 31, 2018 Harris Company authorized a DIVIDEND of $.25, to Stockholders of record January 15, 2019 Payable January 31, 2019 Determine the Common Share Dividend 9) EXTRA CREDIT What is the Dividend Payable Liability at 12/31/2018