Wildhorse Company Income Statement For the Years Ended December 31 2022 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Interest expense Income before income taxes Income tax expense Net income Assets Current assets Cash Debt investments (short-term) Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Bonds payable Accounts payable Income taxes payable Total current liabilities Total liabilities $1,814,500 1,012.800 Wildhorse Company Balance Sheets December 31 801,700 517,800 283,900 18,400 265,500 81,372 $ 184,128 2022 $59,200 69,000 117,200 122,500 367,900 600,800 $968.700 $160.500 42.200 202.700 220,000 422,700 2021 $1,750,100 976,000 774,100 478,400 295,700 13,400 282,300 76,500 $ 205,800 2021 $64,400 49,300 102,900 115,300 331,900 517.100 $849,000 $144,700 42,600 187,300 200,000 387,300
Wildhorse Company Income Statement For the Years Ended December 31 2022 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Interest expense Income before income taxes Income tax expense Net income Assets Current assets Cash Debt investments (short-term) Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Bonds payable Accounts payable Income taxes payable Total current liabilities Total liabilities $1,814,500 1,012.800 Wildhorse Company Balance Sheets December 31 801,700 517,800 283,900 18,400 265,500 81,372 $ 184,128 2022 $59,200 69,000 117,200 122,500 367,900 600,800 $968.700 $160.500 42.200 202.700 220,000 422,700 2021 $1,750,100 976,000 774,100 478,400 295,700 13,400 282,300 76,500 $ 205,800 2021 $64,400 49,300 102,900 115,300 331,900 517.100 $849,000 $144,700 42,600 187,300 200,000 387,300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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