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1- Key Statistics: (OMIT ALL ZEROS 000); if none, leave blank Income Statement (2020) Current Year 406,785 (201G) Prior Year Increase(Decreas. 297,897 200, 612 Sales/Revenue 2구6,310 Cost of Goods Sold Gross Income 130,475 (52,752) 97,285 (12,443) Net Income Balance Sheet End of Increass (Decrая End of Current Year Prior Year Cash & Short-term investments |s9,127 275,988 Total Accounts Reccivable 35,975 40, 090 arcatories 12, 귀구 81,596 Total Current Assets 332,226 Net Property, Plant & Equipment (29,869 403, 594 47/4구 니 Intangible Assets Total Assets 4 SI,923 26,923 ५०४,००० Accounts Payable 53,071 88,967 4구,697 Total Current Linbilities Total Liabilities 100,909 67,833 Total Shareholders' Equity 367,097 384,090 Asset Composition: End of Current Year Largest Assets: (from above) % of Total Assets 1. 2.

1- Key Statistics: (OMIT ALL ZEROS 000); if none, leave blank Income Statement (2020) Current Year 406,785 (201G) Prior Year Increase(Decreas. 297,897 200, 612 Sales/Revenue 2구6,310 Cost of Goods Sold Gross Income 130,475 (52,752) 97,285 (12,443) Net Income Balance Sheet End of Increass (Decrая End of Current Year Prior Year Cash & Short-term investments |s9,127 275,988 Total Accounts Reccivable 35,975 40, 090 arcatories 12, 귀구 81,596 Total Current Assets 332,226 Net Property, Plant & Equipment (29,869 403, 594 47/4구 니 Intangible Assets Total Assets 4 SI,923 26,923 ५०४,००० Accounts Payable 53,071 88,967 4구,697 Total Current Linbilities Total Liabilities 100,909 67,833 Total Shareholders' Equity 367,097 384,090 Asset Composition: End of Current Year Largest Assets: (from above) % of Total Assets 1. 2.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 28CE: Inventory Errors McLelland Inc. reported net income of $175,000 for 2019 and $210,000 for 2020....
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Based on the information in the image, calculate the percentage+ dollar increase for each row and list the 3 largest assets, including the dollar ($) amount and percentage (%) increase.

1- Key Statistics: (OMIT ALL ZEROS 000: if none, leave blank Income Statement (2020) Current Year (201G) Prior Year Increase(Decrease) 406,785 297,897 Sales/Revenue Cost of Goods Sold 276,310 200, 612 9구,285 (12,443) Gross Income 130,475 (52,752) Net Income Balance Sheet End of End of Increase (Decrease) Current Year Prior Year Cash & Short-term investments ISq,12구 275,988 Total Accounts Reccivable 35,975 40, 090 entories 121, 귀구 81,596 Total Current Assets 332,226 Net Property, Plant & Equipment i29,869 403, 594 니구/4구 니 Intangible Assets Total Assets 4 SI, 923 26,923 468,006 Accounts Payable 53,071 88,967 47,697 Total Current Liabilities 100,90a 67,833 Total Liabilities Total Shareholders' Equity 367,097 384,090 Asset Composition: End of Current Year Largest Assets: (from above) % of Total Assets 1. 2. 3.
Transcribed Image Text:1- Key Statistics: (OMIT ALL ZEROS 000: if none, leave blank Income Statement (2020) Current Year (201G) Prior Year Increase(Decrease) 406,785 297,897 Sales/Revenue Cost of Goods Sold 276,310 200, 612 9구,285 (12,443) Gross Income 130,475 (52,752) Net Income Balance Sheet End of End of Increase (Decrease) Current Year Prior Year Cash & Short-term investments ISq,12구 275,988 Total Accounts Reccivable 35,975 40, 090 entories 121, 귀구 81,596 Total Current Assets 332,226 Net Property, Plant & Equipment i29,869 403, 594 니구/4구 니 Intangible Assets Total Assets 4 SI, 923 26,923 468,006 Accounts Payable 53,071 88,967 47,697 Total Current Liabilities 100,90a 67,833 Total Liabilities Total Shareholders' Equity 367,097 384,090 Asset Composition: End of Current Year Largest Assets: (from above) % of Total Assets 1. 2. 3.
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