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Unformatted text preview: $ 10,000.00 Retained Earnings $ 32,150.00 Dividends $ 5,000.00 Additional Paid-In Capital $ 5,000.00 Total Stockholders' Equity $ 52,150.00 Total Liabilities and Stockholders' Equity $ 103,550.00 ABC Corporation Income Statement As of December 31, 2010 Jessica Glass AMP-415 SALES REVENUE Sales $ 225,000.00 Cost of Good Sold $ 72,000.00 Gross Profit $ 153,000.00 Operating Expense Insurance Expense $ 6,000.00 Salaries Expense $ 45,000.00 Rent Expense $ 18,000.00 Depreciation Expense $ 10,500.00 Utilites Expense $ 4,800.00 Total Operating Expense $ 84,300.00 Income From Operations $ 68,700.00 Other Revenues and gains Intrest Revenue $ 500.00 Other Expenses and Losses Interest Expense $ 1,200.00 Net Income $ 68,000.00...
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- Spring '12
- Management, Generally Accepted Accounting Principles, total liabilities, Total Current Liabilities, ABC Corporation, Jessica Glass