200. The following data for the current year ended June 30 were extracted from the accounting records of Excel Co.:
Cost of merchandise sold$195,000
Operating expenses65,000
Sales548,000
201. Selected data from the ledger of Morrison Co. after adjustment at September 30, 2011, the end of the fiscal year, are as follows:
Accounts Receivable$ 39,120 Office Equipment$ 82,700
Accumulated Depreciation60,540 Prepaid Insurance4,680
Administrative Expenses90,000 Note Payable77,750
Capital Stock15,000 Salaries Payable3,060
Cost of Merchandise Sold550,000 Sales (net)950,000
Dividends65,000 Selling Expenses102,000
Retained Earnings70,000 Supplies3,125
Interest Revenue10,000