Partial Income Statement Year Ending 2017 Sales revenue $350,200 Cost of goods sold $142,000 Fixed costs $42,800 Selling, general, and administrative expenses Depreciation Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 LIABILITIES $15,800 Notes payable $28,100 Accounts payable $48,100 Long-term debt ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets ASSETS Cash Accounts receivable Inventories $28,200 $46,100 Fixed assets Accumulated depreciation Intangible assets $367,800 OWNERS' EQUITY $143,600 Retained earnings $81,800 Common stock Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 LIABILITIES $26,100 Notes payable $18,800 Accounts payable $53,200 Long-term debt $447,900 OWNERS' EQUITY Retained earnings $81,800 Common stock $14,200 $18,800 $190,200 $131,900 $11,900 $24,000 $162,100 $182,000

Partial Income Statement Year Ending 2017 Sales revenue $350,200 Cost of goods sold $142,000 Fixed costs $42,800 Selling, general, and administrative expenses Depreciation Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 LIABILITIES $15,800 Notes payable $28,100 Accounts payable $48,100 Long-term debt ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets ASSETS Cash Accounts receivable Inventories $28,200 $46,100 Fixed assets Accumulated depreciation Intangible assets $367,800 OWNERS' EQUITY $143,600 Retained earnings $81,800 Common stock Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 LIABILITIES $26,100 Notes payable $18,800 Accounts payable $53,200 Long-term debt $447,900 OWNERS' EQUITY Retained earnings $81,800 Common stock $14,200 $18,800 $190,200 $131,900 $11,900 $24,000 $162,100 $182,000

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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