01× C O Not secure l ezto.mheducation.com/hm.tpx?-0.6999710878845155 15371393110

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01× C O Not secure l ezto.mheducation.com/hm.tpx?-0.6999710878845155 1537139311087 Question 5 (of 8) to the thtoue presden ofigigCo teend, oln n Cash Receivables from customers (all considered collectible) Inventory of merchandise (based on physical count and priced at cost) Equipment owned, at cost less used portion $ 25700 11,500 82,000 42.200 47640 3,800 payable owed to suppliers Salary neyabile on Dr3t, this es owed to en enpioyes wino wi be 93 0n Januery 101 86.200 taxes expense at 30% x pretax income, all paid during the current year stock (December 31) 85,900 10,100 Dividends declared and paid during the current year (Note: The beginning balances in Common stock and Retained earnings are zero because it is the first year of operations) 12.50 points

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Income Statement Sales $ 135,000.00 Cost of Merchandise $    86,200.00 PreTax Income $    48,800.00 Tax @ 30% $    14,640.00 Net Income $    34,160.00

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