Directions: Given the account balances below, calculate the indicated amounts for the current year's financial statements: Retained Earnings prior year 7,050 PP&E, net 4,440 Wages Expense...


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Directions: Given the account balances below, calculate the indicated amounts<br>for the current year's financial statements:<br>Retained Earnings prior year<br>7,050<br>PP&E, net<br>4,440<br>Wages Expense<br>Administration Expense<br>190<br>150<br>Cash<br>1,550<br>Таx Expense<br>|Common Stock<br>205<br>300<br>Inventory<br>Accounts Payable<br>Accounts Receivable<br>Notes Payable<br>3,700<br>1,800<br>2,700<br>2,200<br>Depreciation Expense<br>220<br>Cost of Goods Sold<br>6,700<br>Dividends<br>200<br>Interest Expense<br>85<br>Revenue<br>8,400<br>Tax Liability<br>390<br>Missing Amounts:<br>Gross Profit<br>?<br>Operating Income<br>?<br>Income Before Tax<br>?<br>Net Income<br>?<br>Total Assets<br>?<br>Total Liabilities<br>?<br>Retained Earnings End of Current Period<br>Shareholders' Equity<br>?<br>?<br>

Extracted text: Directions: Given the account balances below, calculate the indicated amounts for the current year's financial statements: Retained Earnings prior year 7,050 PP&E, net 4,440 Wages Expense Administration Expense 190 150 Cash 1,550 Таx Expense |Common Stock 205 300 Inventory Accounts Payable Accounts Receivable Notes Payable 3,700 1,800 2,700 2,200 Depreciation Expense 220 Cost of Goods Sold 6,700 Dividends 200 Interest Expense 85 Revenue 8,400 Tax Liability 390 Missing Amounts: Gross Profit ? Operating Income ? Income Before Tax ? Net Income ? Total Assets ? Total Liabilities ? Retained Earnings End of Current Period Shareholders' Equity ? ?

Jun 11, 2022
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