ACT301 CT2 opt 1.xlsx - Dickens Corp Income Statement Fiscal Year End X6 Revenues Sales revenue Expenses Salaries and wages expense Cost of goods sold

ACT301 CT2 opt 1.xlsx - Dickens Corp Income Statement...

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Dickens Corp. Income Statement Fiscal Year End December 31, 20X6 Revenues Sales revenue $15,300 Expenses Salaries and wages expense $2,100 Cost of goods sold 3,180 Depreciation expense 1,005 Interest expense 1,200 Insurance expense 630 Income Tax expense 495 Total expenses 8,610 Net Income $6,690
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Dickens Corp. Statement of Retained Earnings Fiscal Year End December 31, 20X6 Beginning Retained Earnings $4,800 Add: Net Income 6,690 11,490 Less: Dividends 975 End Retained Earnings $10,515
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Dickens Corp. Balance Sheet Fiscal Year End December Assets Cash $3,810 Accounts receivable 2,430 Inventory
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Unformatted text preview: 2,901 Prepaid insurance 180 Short-term Investment 3,600 Property, plant, & equipment 7,260 Land 9,300 Accumulated depreciation-property, plant, & equipment 2,010 Total assets $27,471 Liabilities Income tax payable $404 Accounts payable 2,502 Salaries and wages payable 667 Mortgage payable 10,500 Notes payable 183 Total liabilities $14,256 Stockholders' Equity Common stock 2,700 Retained earnings 10,515 Total Stockholders' equity 13,215 Total liabilities & stockholders' equity $27,471 31, 20X6...
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