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Prepare a balance sheet and income statement for the Company XYX, given information: Accumulated depreciation...

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Accounting

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Prepare a balance sheet and income statement for the Company XYX, given information: Accumulated depreciation 38000 Long-term debt ??? Inventory 5000 General and administrative expenses 1000 Interest expense 1200 Common stock 50000 Cost of goods sold 6000 Short-term notes 750 Depreciation expense 600 Sales 13000 Accounts receivable 10000 Accounts payable 5000 Buildings and equipment 120000 Cash 11000 Taxes 1300 Retained earnings 10250

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