Sales Cost of goods sold Gross profit Operating expenses salaries expense Depreciation expense Rent expense Amortization expenses-Patents utilities expense Gain on sale of equipment Net income SONAD COMPANY Income Statement For Year Ended December 31 Accounts receivable Inventory $ 223,584 39,168 44,864 4,896 17,952 $ 1,632,000 799,680 832,320 $ 17,650 increase Accounts payable 19,475 increase salaries payable 329,664 582,656 6,528 $ 509,184 $ 13,900 decrease 4,550 decrease
Sales Cost of goods sold Gross profit Operating expenses salaries expense Depreciation expense Rent expense Amortization expenses-Patents utilities expense Gain on sale of equipment Net income SONAD COMPANY Income Statement For Year Ended December 31 Accounts receivable Inventory $ 223,584 39,168 44,864 4,896 17,952 $ 1,632,000 799,680 832,320 $ 17,650 increase Accounts payable 19,475 increase salaries payable 329,664 582,656 6,528 $ 509,184 $ 13,900 decrease 4,550 decrease
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Sales
Cost of goods sold
Gross profit
Operating expenses
salaries expense
Depreciation expense
Rent expense
Amortization expenses-Patents
utilities expense
Gain on sale of equipment
Net income
SONAD COMPANY
Income Statement
For Year Ended December 31
Accounts receivable
Inventory
$ 223,584
39,168
44,864
4,896
17,952
$ 1,632,000
799,688
832,320
$ 17,650 increase Accounts payable
19,475 increase salaries payable
329,664
582, 656
6,528
$ 509,184
$ 13,900 decrease
4,558 decrease](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2880ea67-6b22-470e-ad20-d2e155929490%2F51f28c79-74de-4398-b2e4-2de975b33570%2Fidonb77_processed.png&w=3840&q=75)
Transcribed Image Text:Sales
Cost of goods sold
Gross profit
Operating expenses
salaries expense
Depreciation expense
Rent expense
Amortization expenses-Patents
utilities expense
Gain on sale of equipment
Net income
SONAD COMPANY
Income Statement
For Year Ended December 31
Accounts receivable
Inventory
$ 223,584
39,168
44,864
4,896
17,952
$ 1,632,000
799,688
832,320
$ 17,650 increase Accounts payable
19,475 increase salaries payable
329,664
582, 656
6,528
$ 509,184
$ 13,900 decrease
4,558 decrease
![Statement of Cash Flows (Partial)
Cash flows from operating activities
$
(9)
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2880ea67-6b22-470e-ad20-d2e155929490%2F51f28c79-74de-4398-b2e4-2de975b33570%2Fhwfabys_processed.png&w=3840&q=75)
Transcribed Image Text:Statement of Cash Flows (Partial)
Cash flows from operating activities
$
(9)
0
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