The records of Tiger Company showed the following data for Sales Sales returns and allowances year 2015: 12,500,000 260,000 Sales discounts Purchases Freight in Purchase returns and allowances Purchase discounts Merchandise inventory, January 1 Merchandise inventory, December 31 Rent income Dividend income Interest income Income tax expense Doubtful accounts Freight out Office salaries Sales salaries Salesmen's commission 140,000 7,300,000 250,000 180,000 120,000 4,500,000 5,800,000 300,000 200,000 200,000 1,104,000 150,000 120,000 900,000 700,000 400,000 Loss on sale of equipment 100,000 Depreciation-building 400,000 Depreciation-office equipment 150,000 Depreciation-store furniture 100,000 150,000 Depreciation - delivery truck

The records of Tiger Company showed the following data for Sales Sales returns and allowances year 2015: 12,500,000 260,000 Sales discounts Purchases Freight in Purchase returns and allowances Purchase discounts Merchandise inventory, January 1 Merchandise inventory, December 31 Rent income Dividend income Interest income Income tax expense Doubtful accounts Freight out Office salaries Sales salaries Salesmen's commission 140,000 7,300,000 250,000 180,000 120,000 4,500,000 5,800,000 300,000 200,000 200,000 1,104,000 150,000 120,000 900,000 700,000 400,000 Loss on sale of equipment 100,000 Depreciation-building 400,000 Depreciation-office equipment 150,000 Depreciation-store furniture 100,000 150,000 Depreciation - delivery truck

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 59BE

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