Question: There are 18 drop boxes and 15 number boxes to fill in Accounting, Analysis, and Principles (Part Level Submission) The income statement for the year
Accounting, Analysis, and Principles (Part Level Submission) The income statement for the year ended December 31, 2017, for Metlock Manufacturing Company contains the following condensed information. METLOCK CO INCOME STATEMENT Revenues Operating expenses (excluding depreciation) Depreciation expense Income before income tax Income tax expense Net income $6,567,000 $4,904,000 854,000 5,758,000 809,000 364,050 444,950 Included in operating expenses is a $15,000 loss resulting from the sale of machinery for $254,000 cash. The company purchased machinery at a cost of $724,000. Metlock reports the following balances on its comparative balance sheets at December 31 METLOCK CO COMPARATIVE BALANCE SHEETS (PARTIAL) 2017 2016 Cash Accounts receivable Inventon Accounts payable $639,950 $114,000 769,000 594,000 826,000 855,000 517,000 495,000
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