Required information [The following information applies to the questions displayed below.] Income statement and balance sheet data for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses: Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income Assets Current assets: Cash Accounts receivable Inventory Other current assets Long-term assets: Land Buildings Equipment Accumulated depreciation Accounts payable Interest payable $40,500 75,800 19,250 GREAT ADVENTURES, INC. Total assets Liabilities and Stockholders' Equity Current liabilities: 11,773 16,500 $205,950 520 Balance Sheets December 31, 2022 and 2021 163,823 $ 42,647 2022 $ 351,486 51,200 11,000 1,300 900,000 900,000 103,200 (29,250) $2,288,936 2021 $ 64,900 0 0 6,100 $ 24,800 $ 1,750 0 60,000 (9,000) $122,000 3,600 950
Required information [The following information applies to the questions displayed below.] Income statement and balance sheet data for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses: Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income Assets Current assets: Cash Accounts receivable Inventory Other current assets Long-term assets: Land Buildings Equipment Accumulated depreciation Accounts payable Interest payable $40,500 75,800 19,250 GREAT ADVENTURES, INC. Total assets Liabilities and Stockholders' Equity Current liabilities: 11,773 16,500 $205,950 520 Balance Sheets December 31, 2022 and 2021 163,823 $ 42,647 2022 $ 351,486 51,200 11,000 1,300 900,000 900,000 103,200 (29,250) $2,288,936 2021 $ 64,900 0 0 6,100 $ 24,800 $ 1,750 0 60,000 (9,000) $122,000 3,600 950
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter14: Financial Statement Analysis
Section: Chapter Questions
Problem 26E: Comprehensive income Anson Industries, Inc., reported the following information on its 20Y1 income...
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