600,000 80,000 70,000 120,000 10,000 200,000 30,000 20,000 Inventories Short-term Liabilities Prepaid insurance Accounts payable Accounts receivable Building, net Cash Common stock 14,000 20,000 10,000 30,000 20,000 200,000 206,000 750,000 Land Unearned revenues Income tax expense Computer equipment, net Interest expense Service revenue COGS Other expense The beginning of the year amount of retained earnings was $300,000 (amount on January 1, 2014), and during the year dividends totaled $80,000. Required: Prenare the income statement of ABR Comoration for the year cnded Dec 31 2014

600,000 80,000 70,000 120,000 10,000 200,000 30,000 20,000 Inventories Short-term Liabilities Prepaid insurance Accounts payable Accounts receivable Building, net Cash Common stock 14,000 20,000 10,000 30,000 20,000 200,000 206,000 750,000 Land Unearned revenues Income tax expense Computer equipment, net Interest expense Service revenue COGS Other expense The beginning of the year amount of retained earnings was $300,000 (amount on January 1, 2014), and during the year dividends totaled $80,000. Required: Prenare the income statement of ABR Comoration for the year cnded Dec 31 2014

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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