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| Partial Income Statement Year Ending 2017 |
| Sales revenue | $350,000 |
| Cost of goods sold | $142,000 |
| Fixed costs | $43,000 |
| Selling, general, and administrative expenses | $28,100 |
| Depreciation | $45,800 |
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| Partial Balance Sheet 12/31/2016 |
| ASSETS | | LIABILITIES | |
| Cash | $16,200 | Notes payable | $14,100 |
| Accounts receivable | $27,900 | Accounts payable | $19,100 |
| Inventories | $48,100 | Long-term debt | $190,000 |
| Fixed assets | $368,100 | OWNERS' EQUITY | |
| Accumulated depreciation (-) | $142,000 | Retained earnings | |
| Intangible assets | $82,200 | Common stock | $131,800 |
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| Partial Balance Sheet 12/31/2017 |
| ASSETS | | LIABILITIES | |
| Cash | $25,900 | Notes payable | $12,200 |
| Accounts receivable | $19,100 | Accounts payable | $23,900 |
| Inventories | $52,800 | Long-term debt | $162,100 |
| Fixed assets | $447,900 | OWNERS' EQUITY | |
| Accumulated depreciation (-) | | Retained earnings | |
| Intangible assets | $81,800 | Common stock | $182,000 |
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The accumulated depreciation for
2017
is
$enter your response here.
(Round to the nearest dollar.)Part 2Complete the balance sheet for
2016:
(Round to the nearest dollar.)
| Balance Sheet 12/31/2016 |
| ASSETS | | | LIABILITIES | | |
| Current assets | | | Current liabilities | | |
| Cash | | $16,200 | Notes payable | | $14,100 |
| Accounts receivable | | $27,900 | Accounts payable | | $19,100 |
| Inventories | | $48,100 | Total current liabilities | $ | |
| Total current assets | $ | | Long-term debt | | $190,000 |
| Fixed assets | | $368,100 | OWNERS' EQUITY | | |
| Accumulated depreciation (-) | | $142,000 | Retained earnings | $ | |
| Intangible assets | | $82,200 | Common stock | | $131,800 |
| | | | TOTAL LIABILITIES AND | | |
| TOTAL ASSETS | $ | | OWNERS' EQUITY | $ | |
Part 3Complete the balance sheet for
2017:
(Round to the nearest dollar.)
| Balance Sheet 12/31/2017 |
| ASSETS | | | LIABILITIES | | |
| Current assets | | | Current liabilities | | |
| Cash | | $25,900 | Notes payable | | $12,200 |
| Accounts receivable | | $19,100 | Accounts payable | | $23,900 |
| Inventories | | $52,800 | Total current liabilities | $ | |
| Total current assets | $ | | Long-term debt | | $162,100 |
| Fixed assets | | $447,900 | OWNERS' EQUITY | | |
| Accumulated depreciation (-) | $ | | Retained earnings | $ | |
| Intangible assets | | $81,800 | Common stock | | $182,000 |
| | | | TOTAL LIABILITIES AND | | |
| TOTAL ASSETS | $ | | OWNERS' EQUITY | $ | |
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