What is the net income for lakeshore technology? Lakeshore Technologies Ltd. reported the followingbalances: Assets = $900 Total Liabilities = $500 Paid-inCapital (PIC) = $250 Beginning Retained Earnings$100 Dividends Paid during the Period= $30 what isthe net income for Lakeshore Technologies Ltd.?==

Detailed explanation:Assets, $900Liabilities, $500Paid-in Capital, $250Retained Earnings (beginning…

Answered: Lakeshore Technologies Ltd. reported…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4PB

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What is the net income for lakeshore technology? General accounting
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The following data were taken from the financial statements of Gates Inc. for the current fiscal year. $1,202,600 Property, plant, and equipment (net) Liabilities: $173,000 Current liabilities 859,000 Note payable, 6%, due in 15 years $1,032,000 Total liabilities Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $619,200 Common stock, $10 par (no change during year) 619,200 Retained earnings: $660,000 Balance, beginning of year Net income $974,000 314,000 Preferred dividends $24,768 148,400 Common dividends 123,632 Balance, end of year 825,600 Total stockholders' equity $2,064,000 $19,922,100 Sales Interest expense $51,540 Assuming that total assets were $2,941,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place.
Accounting selected current year company information follow:
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Lakeshore Technologies Ltd. reported the following balances: Assets = $900 Total Liabilities = $500 Paid-in Capital (PIC) = $250 Beginning Retained Earnings $100 Dividends Paid during the Period = $30 what is the net income for Lakeshore Technologies Ltd.? ==