Question

Grades for Han c Sched Using the Account CengageNOW2 x cincome Statement And Blect the i r 2.cengagenow.com/ assign m ent indoor s mentessionLocator-Binprogress-false eBook Calculator Problem 1-60A (Algorithmic) Income Statement and Balance Sheet The following information for Rogers Enterprises is available at December 31, 2019, and includes all of Rogers' financial statement amounts except retained earnings: Accounts receivable $72.920 Cash 13.240 Common stock (10,000 shares) Income taxes expense Income taxes payable Interest expense 62,000 12,600 4,150 15,700 25,000 31,500 90,000 Notes payable (due in 10 years). Prepaid rent building) Property, plant, and equipment Rent expense 135,000 Retained earnings Salaries expense 235,200 Salaries payable Service revenue 14,480 463,000 42,000 Supplies Supplies expense 34,300 Renser: Check My Work 5 more Check My Work uses remaining

Answer 1

463,000 Rogers Enterprises Income Statement For the Year Ended December 31, 2019 Revenues: Service revenue $ Expenses: Supplies expense $ 34,300 Salaries expense $ 235,200 Rent expense $ 135,000 Interest expense 15,700 Income taxes expense $ 12,600 $ Net Income $ $ 432,800 30,200

13,240 72,920 42,000 31,500 $ $ $ 159,660 90,000 249,660 Rogers Enterprises Balance Sheet December 31, 2019 Assets Current assets: Cash $ Accounts receivable Supplies $ Prepaid rent $ Total current assets Property, plant and equipment Total assets Liabilities Current liabilities: Salaries payable $ Income taxes payable $ Total current liabilities Long-term liabilities Notes payable Total liabilities Stockholders' Equity Stockholders' equity: Common stock $ Retained earnings $ Total stockholders' equity Total liabilities and stockholders' equity 14,480 4,150 $ 18,630 $ $ 25,000 43,630 62,000 144,030 $ $ 206,030 249,660