answer first three subparts Directions: Given the account balances below, calculate the indicated amountsfor the current year's financial statements:Retained Earnings prior year7,050PP&E, net4,440Wages ExpenseAdministration Expense190150Cash1,550Таx Expense|Common Stock205300InventoryAccounts PayableAccounts ReceivableNotes Payable3,7001,8002,7002,200Depreciation Expense220Cost of Goods Sold6,700Dividends200Interest Expense85Revenue8,400Tax Liability390Missing Amounts:Gross Profit?Operating Income?Income Before Tax?Net Income?Total Assets?Total Liabilities?Retained Earnings End of Current PeriodShareholders' Equity??

Wages is a direct expense and thus already included in the cost of goods sold . Operating expenses =…

Answered: Directions: Given the account balances…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 1PB: Identify whether each of the following accounts would be considered a permanent account (yes/no) and...

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