Question: Please help me with my assignment Information: Paddleboard Inc. began operations on January 1, 2019. Its post-closing trial balance at December 31, 2019 and 2020,

Please help me with my assignment  Please help me with my assignment Information: Paddleboard Inc. began operations
Information:
on January 1, 2019. Its post-closing trial balance at December 31, 2019

Paddleboard Inc. began operations on January 1, 2019. Its post-closing trial balance at December 31, 2019 and 2020, Is shown below along with some other information Paddleboard Ine. Income Statement For Year Ended December 31, 2020 (000) Revenues : Sales Cost of goods sold Gross Profit Expenses: Other expenses $ 670 Depreciation expense 110 Total operating expenses Profit from operations Income tax expense Profit $3,544 1,776 1,768 780 988 508 480 Paddleboard Inc. Post-Closing Trial Balance (000) December 31 Account 2020 2019 Cash $2,180 $1,770 Receivables 2,730 2,010 Merchandise inventory 2,490 2,970 Property, plant and equipment 2,970 2,650 Accumulated depreciation 1,850 1,740 Investments 2,010 2,170 Accounts payable 1,850 1,370 Accrued liabilities 150 480 Bonds payable 1,710 2,330 Common shares 2,970 2,190 Retained earnings 3,850 3,460 Other information regarding Paddleboard Inc. and its activities during 2020: 1. Assume all accounts have normal balances. 2. Cash dividends were declared and paid during the year. 3. There were no sales of property, plant, and equipment assets during the year. 4. Investments were sold for cash at their original cost

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