Question

Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 (s in eees) 2018 2017 Assets Cash Accounts receivable $ 75 69 40 Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment 45 31 48 28 зе 30e 268 Less: Accumulated depreciation (43) (80) $ 474 % 445 Liabilities Accounts payable salaries payable Interest payable Income tax payable Notes payable Bonds payable $ 63 $ 84 30 90 65 Less: Discount on bonds Shareho1ders' Equity Common stock Paid-in capital-excess of par Retained earnings 210 49 $ 474 200 20 64 Less: Treasury stock (at cost) (4)e 445 DUX COMPANY Income Statement For the Year Ended becember 31, 2018 (s in eees) Revenues s 290 Sales revenue Dividend revenue 3 $293 Expenses Cost of goods sold Salaries expense 170 43

Answer 1