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QUESTION 2 Prepare a balance sheet and an income statement for Cucki Company for the year 2017 from the following information: RM 57,000 14,000 150,000 6,200 600,000 Accounts payable Cash Long term debt Marketable securities Sales Taxes (40%) Prepaid rent Accounts receivable Depreciation COGS Interest expenses Inventory Plant and equipment General and administrative expenses 30,000 Accumulated depreciation Accruals Notes payable 1,100 33,000 30,000 460,000 10,000 84,000 300,000 30,000 5,000 mon stockboldes squty135.300
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Cucki Compan Income Statement For the year ending December 31, 2017 Revenues: Sales Expenses: Cost of Goods Sold Depreciation General & Administrative Expenses Interest Expense Total Expenses Income before Taxes Taxes Net Income 600,000 460,000 30,000 30,000 10,000 530,000 70,000 28,000 42,000

Balance Sheet December 31, 2017 Assets Current Assets: Casi Accounts Receivable Prepaid Rent Marketable Securities Inventory Total Current Assets Property, Plant and Equipment Plant and Equipment 14,000 33,000 1,100 6,200 84,000 138,300 300,000 30,000 Net Property, Plant and Equipment Total Assets 270,000 408,300

Liabilities and Stockholders Equity Liabilities: Current Liabilities: Accounts Payable Accruals Notes Payable Total Current Liabilities Long Term Debt Total Liabilities Stockholders Equity Common Stockholders Equity Total Liabilities and Stockholders Equity 57,000 5,000 13,000 75,000 150,000 225,000 183,300 408,300

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