The following items were taken from NIKE company records as of December 31

Accounts payable	25,000		Long-term notes receivable	13,000
accounts receivable	20,000		patent, net	34,000
Building Sale Rental costs	190.000 450.000 55,000		Accumulated expenses depreciation expense Tax expenditure	6,000 32,000 15,000
Money interest expense	15,000 117,000		long term debt Salary and salary expense	109,000 90.000
Equipment	76,000		Common actions	50,000
Retained earnings	??		Inventory	20,000
Prepaid expenses	8,000		Accumulated depreciation	42,000
long term investments	94,000		Autocartera	5,000

1- Prepare a balance sheet in an appropriate format for the company as of December 31 .

2- Evaluate the financial situation of the Nike Company using its Prepared Balance Sheet. 

Answer rating: 100% (QA)

Calculate Retained Earnings we can use the following formula From the balance sheet provided Tot... View the full answer