Constructing Financial Statements from Account Data Barth Company reports the following year-end account balances at December 31, 2011. Prepare the 2011 income statement and the balance sheet as of...

Extracted text: Constructing Financial Statements from Account Data Barth Company reports the following year-end account balances at December 31, 2011. Prepare the 2011 income statement and the balance sheet as of December 31, 2011. Accounts payable $ 4,000 Inventory $ 9,000 Accounts receivable 7,500 Land 20,000 Bonds payable, long-term 50,000 Goodwill 2,000 Buildings 37,750 Retained earnings 15,000 Cash 12,000 Sales revenue 100,000 Common stock 37,500 Supplies inventory 750 Cost of goods sold 45,000 Supplies expense 1,500 Equipment 17,500 Wages expense 10,000 Barth Company Income Statement For Year Ended December 31, 2011 $4 Expenses Total expenses Net income $. Barth Company Balance Sheet December 31, 2011 Assets Cash 2$ Liabilities and equity $4 Total current assets Total liabilities