The following items are taken from the financial statements of Blue Spruce Company for the year ending December 31, 2022:Accounts payable $ 17,200 Accounts receivable 7,000 Accumulated depreciation—equipment 5,000 Bonds payable 17,000 Cash 22,000 Common stock 26,400 Cost of goods sold 27,600 Depreciation expense 5,700 Dividends 5,200 Equipment 40,000 Interest expense 2,000 Patents 5,180 Retained earnings, January 1, 2022 5,700 Salaries and wages expense 5,300 Sales revenue 51,500 Supplies 2,820Prepare a classified balance sheet for Blue Spruce Company. (List Current assets in order of liquidity.) Net income is $10,900. Assets%24%24>> Liabilities and Stockholders' Equity$%24%24>>>>

Balance sheet of the business shows all assets and all liabilities and equity of the business as on…

Answered: he following items are taken from the…

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 11P: RATIO CALCULATIONS Assume the following relationships for the Caulder Corp.: Sales/Total assets 1.3...

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The following items are taken from the financial statements of Blue Spruce Company for the year ending December 31, 2022:

Accounts payable		$ 17,200
Accounts receivable		7,000
Accumulated depreciation—equipment		5,000
Bonds payable		17,000
Cash		22,000
Common stock		26,400
Cost of goods sold		27,600
Depreciation expense		5,700
Dividends		5,200
Equipment		40,000
Interest expense		2,000
Patents		5,180
Retained earnings, January 1, 2022		5,700
Salaries and wages expense		5,300
Sales revenue		51,500
Supplies		2,820