Below are scrambled list of balance sheet and income statement items for TNT Inc. Prepare an income statement and calculate the netincome for TNT Inc.a.$116,325b.$163,325c.$136,625d.$113,625Depreciation ExpenseCashLong-Term debtSalesAccounts PayableGeneral & Administrative ExpenseBuildings & EquipmentNotes PayableAccounts ReceivableInterest ExpenseAccrued ExpensesCommon StockCost of Goods SoldInventoryTaxesAccumulated DepreciationTaxes payableRetained EarningsGiven$99,000.00$337,500.00$501,000.00$859,500.00$153,000.00$118,500.00$1,342,500.00$112,500.00$251,250.00$7,125.00$11,850.00$433,500.00$445,500.00$148,950.00$75,750.00$394,500.00$21,750.00$79,500.00

Calculation of Net Income Income Statement Particulars $ Sales…

Answered: Below are scrambled list of balance…

Below are scrambled list of balance sheet and income statement items for TNT Inc. Prepare an income statement and calculate the net income for TNT Inc. a.$116,325 b.$163,325 c.$136,625 d.$113,625

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.17E: Financial statements Each of the following items is shown in the financial statements of ExxonMobil...

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Concept explainers

Operating Cash Flows

A cash flow statement (CFS) helps the company to know the amount of cash at its disposal, the activities that lead to earning cash, and the activities which require cash expenditure for a particular period. The statement represents the liquidity of the company.

Question

Below are scrambled list of balance sheet and income statement items for TNT Inc. Prepare an income statement and calculate the net
income for TNT Inc.
a.$116,325
b.$163,325
c.$136,625
d.$113,625
Depreciation Expense
Cash
Long-Term debt
Sales
Accounts Payable
General & Administrative Expense
Buildings & Equipment
Notes Payable
Accounts Receivable
Interest Expense
Accrued Expenses
Common Stock
Cost of Goods Sold
Inventory
Taxes
Accumulated Depreciation
Taxes payable
Retained Earnings
Given
$99,000.00
$337,500.00
$501,000.00
$859,500.00
$153,000.00
$118,500.00
$1,342,500.00
$112,500.00
$251,250.00
$7,125.00
$11,850.00
$433,500.00
$445,500.00
$148,950.00
$75,750.00
$394,500.00
$21,750.00
$79,500.00

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