The following data was taken from the books of Polo, Inc. as of December 31, 2020:...

 

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The following data was taken from the books of Polo, Inc. as of December 31, 2020: Cost of goods sold $ 35,300 Income tax expense 6,120 Cash 4,755 Retained earnings (Jan 1) 8,000 Other income 2,225 Sales revenue 57,250 PPE (net) 34,425 Required Calculate total assets. Selling & administrative expense Accounts payable Common shares, (3,250 shares) Dividends Interest expense Depreciation expense Accounts Receivable $9,500 14,225 20,000 3,250 250 2,850 5,250 The following data was taken from the books of Polo, Inc. as of December 31, 2020: Cost of goods sold $ 35,300 Income tax expense 6,120 Cash 4,755 Retained earnings (Jan 1) 8,000 Other income 2,225 Sales revenue 57,250 PPE (net) 34,425 Required Calculate total assets. Selling & administrative expense Accounts payable Common shares, (3,250 shares) Dividends Interest expense Depreciation expense Accounts Receivable $9,500 14,225 20,000 3,250 250 2,850 5,250

Answer rating: 100% (QA)

To calculate total assets from the provided information you would typically look for line items o... View the full answer