80.2K
Verified Solution
Link Copied!
Income Statement Balance Sheet Sales $2,082 Assets Liabilities & Equity A/P $1,920 Cost of Goods 752 Cash $504 S&A Expense 162 Marketable Securities 1,166 Notes Payable 457 287 A/R 451 Depreciation Expense Interest Expense 340 Accrued Expense 2,865 Bonds Payable 242 2,419 Inventory Prepaid Expenses Taxes 143 595 Common Stock 408 Plant and Net Income $???????? 3,167 CIEP/APIC 866 Equipment Common Stock Dividend $72 Total Assets $???????? Retained Earnings 29999992 Total L&E $???????? Assuming all sales are credit sales, the Average Collection Period (365 day year) is: (Round to closest whole day)
Answer & Explanation
Solved by verified expert
