WINDHEAD CORP
BALANCE SHEET
For the year ended December 31, 2023
Cash		$41,226
Notes Receivable		$16,000
Accounts Receivable		$38,300
Less;Allowance for Doubtful Accounts		-$5,164
Inventories		$78,546
Prepaid Insurance		$540
Prepaid Rent		$4,100
Total Current Assets		$173,548
Non Current Assets
Long-term Investments
Investments in held-for-maturity securities		$52,000
Land held for future development		$45,500
Property, Plant, and Equipment
Land		$100,000
Buildings		$675,000
Less:Accumulated Depreciation		-$200,750
Intangible Assets
Capitalized Development Costs		$8,000
Goodwill		$76,700
Other Identifiable Intangible Assets		$48,000
Total Non-Current Assets		$804,450
Total Assets		$977,998
Current Liabilities
Notes Payable		$120,000
Accounts Payable		$8,040
Income Tax Payable		$11,690
Property Taxes Payable		$6,600
Interest Payable		$1,200
Total Current Liabilities		$147,530
Non-Current Liabilities
Provisions related to pensions		$84,100
Bonds Payable		$300,000
Total Non-Current Liabilities		$384,100
Total Liabilities		$531,630
Stockholders' Equity
Common Stock		$110,000
Preferred Stock		$100,000
Paid-in-capital - Common Stock		$32,500
Paid-in-capital - Preferred Stock		$10,000
Retained Earnings		?
Accumulated Other Comprehensive Income		$5,000
Less: Treasury Stock		-$12,750
Total Stockholder's Equity		$244,750
Total Liabilities and Stockholders' Equity		$923,910

Can you help me with the correct:

• Income statement
• Retained earnings
• Balance Sheet
• Cash Flow statement 

Please fix what is missing in this financial statement.

WINDHEAD CORP
ADJUSTED TRIAL BALANCE
For year ended 12/31/2023
	Debit		Credit
Cash	41,226
Notes Receivable	16,000
Accounts Receivable	38,300
Less: Allowance for Doubtful Accounts			5,164
Inventories	78,546
Prepaid Insurance	540
Prepaid Rent	4,100
Investments in held-for-maturity securities	52,000
Land held for future development	45,500
Land	100,000
Buildings	675,000
Less: Accumulated Depreciation			200,750
Capitalized Development Costs	8,000
Goodwill	76,700
Other Indentifiable Intangible Assets	48,000
Notes Payable			120,000
Accounts Payable			8,040
Income Taxes Payable			11,690
Property Taxes Payable			6,600
Interest Payable			1,200
Provisions Related to Pensions			84,100
Bonds Payable			300,000
Common Stock			110,000
Preferred Stock			100,000
Paid-in-Capital - Common Stock			32,500
Paid-in-Capital - Preferred Stock			10,000
Retained Earnings			153,350
Accumulated Other Comprehensive Income			5,000
Less: Treasury Stock	12,750
Freight Out	2,040
Sales Revenue			117,520
Purchase Discouts			398
Sales Returns and Allowances	100
Purchase Return			200
Sales Discounts	400
Bad Debt Expense	2,164
Utilities Expense	11,342
Interest Expense	5,700
Salaries & Wages Expense	44,000
Utilities Payable			1,250
Depreciation Expense	13,250
Federal Income Tax	3,250
Cost of Goods Sold	38,000
Purchases			40,146
Sales			12,000
Office Supplies Expense	500
Rent Expense	2,500
TOTAL	1,319,908		1,319,908

Windhead Corp.
Income Statement
For the Year Ended December 2023
Revenue:
Gross Sales	$117,520.00
Net Sales	$117,520.00
Cost of Goods Sold:	$ (38,000.00)
Gross Profit	$79,520.00
Operating Expenses
Bad Debt Expense	$2,164.00
Utilities Expense	$11,342.00
Interest Expense	$5,700.00
Salaries & Wages Expense	$44,000.00
Office Expense	$500.00
Rent Expense	$2,500.00
Total Operating Expenses	$ (66,206.00)
Net Operating Income	$13,314.00
Federal Income Tax	$ (3,250.00)
Net Income	$10,064.00

Windhead Corp.
Statement of Retained Earnings
For the Year Ended December 31, 2023
Retained Earnings at the beginning of the year		$153,350.00
Add: Net Income		$10,064.00
Subtract: Dividend		0
Retained Earnings: Ending		$163,414.00

Answer rating: 100% (QA)

Windhead Corp Balance Sheet For the year ended December 31 2023 Assets Current Assets Cash 41226 Notes Receivable 16000 Accounts Receivable 38300 Inve... View the full answer