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EX CengaceX Cengage X Connect X M MHE Rex Mystic keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator&inprogress false X Calcular X C Cheggs X CSolved: 9 Pd eBook Calculator Print Item Following is the unadjusted trial balance for Sun Energy Co. on December 31, 2017 Sun Energy Co. Unadjusted Trial Balance Year Ended December 31, 2017 Account Debit Credit Cash $5,000 Accounts Receivable 2,400 Merchandise Inventory 4,500 Buildings 2,400 Equipment 3,200 Accounts Payable $5,700 Salaries Payable 3,000 Common Stock 2,500 Dividends Sales Revenue 13,100 COGS 3,800 Salaries Expense 3,000 Totals $24,300 $24,300 You are also given the following supplemental information: A pending lawsuit, claiming $2,500 in damages, is considered likely to favor the plaintiff and can be reasonably estimated. Sun Energy Co. believes a customer may win a lawsuit for $3,500 in damages, but the outcome is only reasonably possible to occur. Sun Energy calculated warranty expense estimates of $210. A. Using the unadjusted trial balance and supplemental information for Sun Energy Co., construct an income statement for the year ended December 31, 2017. Pay particular attention to expenses resulting from contingencies Sun Energy Co. Checy Work eBook E Print Item Calculator Sun Energy Co. Income Statement Year Ended December 31, 2017 Revenues: Total Revenues abo Expenses Total Expenses B. Construct a balance sheet, for December 31, 2017, from the given unadjusted trial balance, supplemental information, and income statement for Sun Energy Co., paying particular attention to contingent liabilities. Sun Energy Co. Balance Sheet December 31, 2017 Assets Check My Work Previous Next > Email Instructor Save and Exit Submit Assignment for Grading eBook Calculator Print Item B. Construct a balance sheet, for December 31, 2017, from the given unadjusted trial balance, supplemental Information, and income statement for Sun Energy C paying particular attention to contingent liabilities. Sun Energy Co. Balance Sheet December 31, 2017 Total Assets Liabilities Total Liabilities Stockholders' Equity Total abilities and Stockholders' Equity Sun Energy Co. is the defendant in a pending lawsuit. The plaintiff is claiming $2,500 in damages and is considered akely to win this amount when the case is tried. In addition, Sun Energy Co. believes another customer may win a dfferent lawsuit for $3,500 in damages, but this outcomes only possible, not likely to occur. Also Sun Oh My Work Previous Next > Email Instructor Save and Exile Submit A nment for Grading