Net income 12000 12000 totals 507000 507000

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Mathematical Applications for the Management, Life, and Social Sciences
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Chapter 6 / Exercise 16
Mathematical Applications for the Management, Life, and Social Sciences
Harshbarger
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Net income12,00012,000Totals507,000 507,000 14,00014,000521,000 521,000 323,000323,000210,000210,000
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Mathematical Applications for the Management, Life, and Social Sciences
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Chapter 6 / Exercise 16
Mathematical Applications for the Management, Life, and Social Sciences
Harshbarger
Expert Verified
2.1Prepare an income statement for 2016.
2.2Prepare a balance sheet as of December 31, 2016. (Amounts to be deducted should beindicated with a minus sign)WOLKSTEIN DRUG COMPANYBalance sheetAt December 31, 2016AssetsCurrent assetsCash$20,000Accounts receivable35,000Inventory50,000Prepaid rent5,000Total curent assets110,000Property and equipment

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