The following items and amounts were taken from Wildhorse Inc.'s 2025 income statement and balance sheet. Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory $ 88,000 122,500 436,300 117,000 8,100 64,300 Accounts receivable Sales revenue Notes payable Accounts payable Service revenue Interest expense $90,500 581,700 6,300 55,500 5,500 1.830

The following items and amounts were taken from Wildhorse Inc.'s 2025 income statement and balance sheet. Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory $ 88,000 122,500 436,300 117,000 8,100 64,300 Accounts receivable Sales revenue Notes payable Accounts payable Service revenue Interest expense $90,500 581,700 6,300 55,500 5,500 1.830

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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The following items and amounts were taken from Blossom Company's 2017 income statement and balance sheet. Cash $ 88,000 Retained earnings Cost of goods sold 122,500 436,300 Salaries and wages expense 117,000 Prepaid insurance 8,100 Inventory 64,300 Accounts receivable Sales revenue 90,500 581,700 Notes payable Accounts payable 6,300 55,500 Service revenue 5,500 Interest expense 1,830
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