Reference no: EM131794540
Question: A set of financial statements for Fox Company follows: LOADING... ?(Click to view the financial? statements.) Requirement Fill in the missing amounts? (indicated with question? marks).
Requirement 1. Fill in the missing amounts. Begin by completing the income statement.
Fox Company Income Statement For the Year Ended December 31, 2012
Sales . . . . . . . . . . . . . . . . . . $575,000
Cost of goods sold . . . . . . . ?
Gross profit on sales . . . . . . 235,000
Administrative expenses . . . 55,000
Operating income . . . . . . . . ?
Interest expense . . . . . . . . . 11,000
Income tax expense . . . . . . 67,600
Net income . . . . . . . . . . . . . ?
Fox Company Balance Sheet At December 31, 2012
Cash . . . . . . . . . . . . . . . . . . $ ?
Accounts payable . . . . . . . . . . . .$12,700
Accounts receivable . . . . . . . . . .14,000
Note payable . . . . . . . . . . . . . . 10,400
Inventory . . . . . . . . . . . . . . . . .48,000
Equipment . . . . . . . . . . . . . . . . 965,000
Contributed capital . . . . . . . . . . 700,000
Retained earnings . . . . . . . . . . . ?
Total . . . . . . . . . . . . . . . . . . . $1,147,000
Total ?
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