Condensed balance sheet and income statement data for Vaughn Corporation are presented here. Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Vaughn Corporation Balance Sheets December 31 Net sales Cost of goods sold Gross profit Sales Less: Sales returns and allowances Net income 2022 $29,400 50,300 90,000 55,000 500,600 $725,300 $85,900 146,000 330,000 163,400 $725,300 Vaughn Corporation Income Statements For the Years Ended December 31 Operating expenses (including income taxes) 2021 $17,700 2022 95,200 69,400 370,000 $596,700 $79,000 84,200 44,400 309,000 124,500 $596,700 $736,000 40,900 695,100 426,300 268,800 185,388 $83,412 2020 $ 18,000 48.500 64,700 45,800 357,600 $534,600 $70.600 49,600 312.000 102,400 $534,600 2021 $606,900 30,600 576,300 371,000 205,300 147,670 $57,630

Condensed balance sheet and income statement data for Vaughn Corporation are presented here. Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Vaughn Corporation Balance Sheets December 31 Net sales Cost of goods sold Gross profit Sales Less: Sales returns and allowances Net income 2022 $29,400 50,300 90,000 55,000 500,600 $725,300 $85,900 146,000 330,000 163,400 $725,300 Vaughn Corporation Income Statements For the Years Ended December 31 Operating expenses (including income taxes) 2021 $17,700 2022 95,200 69,400 370,000 $596,700 $79,000 84,200 44,400 309,000 124,500 $596,700 $736,000 40,900 695,100 426,300 268,800 185,388 $83,412 2020 $ 18,000 48.500 64,700 45,800 357,600 $534,600 $70.600 49,600 312.000 102,400 $534,600 2021 $606,900 30,600 576,300 371,000 205,300 147,670 $57,630

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
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