$ Revenue Cost of sales Gross margins Operating expenses: Research & Development Selling, general & administrative Total operating expenses Operating income Income taxes Net income $ ASSETS: Current assets: Cash and cash equivalents Accounts receivable Inventories Total current assets Non-current assets Total assets LIABILITIES AND SHAREHOLDER'S EQUITY: Current liabilities: Account pavable Notes payable Total current liabilities Non-current liabilities Total Liabilities Shareholders' equity: Common stock (20,000 common shares outstanding) Retained earning Total shareholders' equity Total Liabilities and Shareholders' Equity Total number common shares outstanding 31-Dec-22 $295,110 188.432 106,678 22.035 26,321 48.356 58,322 12.831 $45,491 31-Dec-22 $88.252 43.290 10.920 142,462 175.697 $318,159 $64.352 33.482 97.834 99,728 197.562 38,035 82,562 120.597 $318,159 20,000
$ Revenue Cost of sales Gross margins Operating expenses: Research & Development Selling, general & administrative Total operating expenses Operating income Income taxes Net income $ ASSETS: Current assets: Cash and cash equivalents Accounts receivable Inventories Total current assets Non-current assets Total assets LIABILITIES AND SHAREHOLDER'S EQUITY: Current liabilities: Account pavable Notes payable Total current liabilities Non-current liabilities Total Liabilities Shareholders' equity: Common stock (20,000 common shares outstanding) Retained earning Total shareholders' equity Total Liabilities and Shareholders' Equity Total number common shares outstanding 31-Dec-22 $295,110 188.432 106,678 22.035 26,321 48.356 58,322 12.831 $45,491 31-Dec-22 $88.252 43.290 10.920 142,462 175.697 $318,159 $64.352 33.482 97.834 99,728 197.562 38,035 82,562 120.597 $318,159 20,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 30GI
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