What are the total liabilities as of 12/31/2020? Income Statement year ending 2020 Sales Revenues $130,000 Cost

What are the total liabilities as of 12/31/2020?

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Income Statement year ending 2020 Sales Revenues $130,000 Cost of goods sold 39,000 Fixed costs 20,000 Selling, general, and administrative expenses 25,000 Depreciation 1,000 EBIT Interest expense 2.000 Taxable Income Taxes Net Income ***Tax rate Dividens paid ASSETS Current Assets Cash Accounts receivable Inventories Total current assets Gross Fixed assets Accumulated depreciation Net Fixed assets Intangible assets TOTAL ASSETS 30% 51000 Partial Balance Sheet 12/31/2019 LIABILITIES Current Liabilities $4,000 Notes payable 7,000 Accounts payable 4.00 Total current liabilities Long-term debt Total Liabilities 74,000 OWNERS' EQUITY 11.999 Retained earnings (1) Common stock Total owner's equity TOTAL LIABILITIES & OWNER'S EQUITY These are cumulative raised camnings hit textbook simply calls it rained earnings Partial Balance Sheet 12/31/2020 ASSETS Current Assets Cash LIABILITIES Current Liabilities $3,000 Notes payable 1,000 Accounts receivable Inventories Total current assets Gross Fixed assets Accumulated depreciation Net Fixed Assets Intangible assets Total long-term assets TOTAL ASSETS Accounts payable 7.000 Total current liabilities Long-term debt 50,000 Total liabilities OWNERS EQUITY Retained earnings Common stock Total owner's equity TOTAL LIABILITIES & OWNER'S EQUITY When answering the questions (filling in the blanks), DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign and place it in front of first digit of your answer when your answer is a negative number. Round to the nearest dollar. Total Liabilities as of 12/31/2020 is 10 Income Statement year ending 2020 Sales Revenues $130,000 Cost of goods sold 39,000 Fixed costs 20,000 Selling, general, and administrative expenses 25,000 Depreciation 1,000 EBIT Interest expense 2.000 Taxable Income Taxes Net Income ***Tax rate Dividens paid ASSETS Current Assets Cash Accounts receivable Inventories Total current assets Gross Fixed assets Accumulated depreciation Net Fixed assets Intangible assets TOTAL ASSETS 30% 51000 Partial Balance Sheet 12/31/2019 LIABILITIES Current Liabilities $4,000 Notes payable 7,000 Accounts payable 4.00 Total current liabilities Long-term debt Total Liabilities 74,000 OWNERS' EQUITY 11.999 Retained earnings (1) Common stock Total owner's equity TOTAL LIABILITIES & OWNER'S EQUITY These are cumulative raised camnings hit textbook simply calls it rained earnings Partial Balance Sheet 12/31/2020 ASSETS Current Assets Cash LIABILITIES Current Liabilities $3,000 Notes payable 1,000 Accounts receivable Inventories Total current assets Gross Fixed assets Accumulated depreciation Net Fixed Assets Intangible assets Total long-term assets TOTAL ASSETS Accounts payable 7.000 Total current liabilities Long-term debt 50,000 Total liabilities OWNERS EQUITY Retained earnings Common stock Total owner's equity TOTAL LIABILITIES & OWNER'S EQUITY When answering the questions (filling in the blanks), DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign and place it in front of first digit of your answer when your answer is a negative number. Round to the nearest dollar. Total Liabilities as of 12/31/2020 is 10

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Answer Income Statement year ending 2020 Sales Revenues 320000 Cost of goods sold ... View the full answer