The following information is available for Sandhill Inc. Accounts receivable $3,100 Cash $6,220 Accounts payable 4,200 Supplies 3,810 Interest payable 520 Unearned service revenue 920 Salaries and wages expense 4,500 Salaries and wages payable 900 Notes payable 33,000 Depreciation expense 780 Common stock 53,100 Equipment (net) 111,000 Inventory 2,850 Sandhill Inc. Balance Sheet December 31, 2025 Assets Cash Accounts Receivable Inventory Supplies Equipment Total Assets Liabilities Accounts Payable Interest Payable Salaries and Wages Payable Notes Payable Unearned Service Revenue Total Liabilities Stockholders' Equity Common Stock Total Stockholders' Equity Total Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity 4,200 520 900 33,000 920 53,100 6,220 3,100 2,850 3,810 111,000 126,980 39,540 53,100 92,640

The following information is available for Sandhill Inc. Accounts receivable $3,100 Cash $6,220 Accounts payable 4,200 Supplies 3,810 Interest payable 520 Unearned service revenue 920 Salaries and wages expense 4,500 Salaries and wages payable 900 Notes payable 33,000 Depreciation expense 780 Common stock 53,100 Equipment (net) 111,000 Inventory 2,850 Sandhill Inc. Balance Sheet December 31, 2025 Assets Cash Accounts Receivable Inventory Supplies Equipment Total Assets Liabilities Accounts Payable Interest Payable Salaries and Wages Payable Notes Payable Unearned Service Revenue Total Liabilities Stockholders' Equity Common Stock Total Stockholders' Equity Total Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity 4,200 520 900 33,000 920 53,100 6,220 3,100 2,850 3,810 111,000 126,980 39,540 53,100 92,640

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 43E: Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required:...

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