Partial balance sheets and additional information are listed below for Sowell Company. Sowell Company Partial Balance Sheets as of December 31 Assets Cash Accounts receivable Inventory Liabilities Accounts payable Additional information for 2024: 2024 2023 $ 20,000 85,000 35,000 $ 54,000 $ 62,000 $ 40,000 70,000 40,000 Net income was $88,000. Depreciation expense was $19.000.
Partial balance sheets and additional information are listed below for Sowell Company. Sowell Company Partial Balance Sheets as of December 31 Assets Cash Accounts receivable Inventory Liabilities Accounts payable Additional information for 2024: 2024 2023 $ 20,000 85,000 35,000 $ 54,000 $ 62,000 $ 40,000 70,000 40,000 Net income was $88,000. Depreciation expense was $19.000.
Chapter1: Financial Statements And Business Decisions
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