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(Answered) income statement and balance sheet


Use the following information to create an income statement and balance sheet. Accounts Payable 45,000 Accounts Receivable 100,000 Cash 50,000 Common Stock 60,000 Costs 400,000 Depreciation Expense 10,000 Goodwill 200,000 Interest Expense 15,000 Inventory 150,000 Line of Credit (used) 55,000 Paid in Surplus 151,250 Preferred Stock 140,000 Retained Earnings? Sales 500,000 Tax Rate 35%
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income statement and balance sheet

 


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