Reference no: EM13395316

The Weikart Company had the following items on its December 31, 20X0, balance sheet and 20X0 income statement (in dollars except for number of shares outstanding):

Cash and equivalent $55,000

Revenues 800,000

Notes payable 51,000

Long-term debt, excluding current portion 210,000

Accounts receivable, net 48,000

Provision for income taxes 60,000

Other long-term assets 110,000

Interest expense 55,000

Deferred income tax liability-long-term 44,000

Retained earnings 204,000

Income taxes payable 37,000

Cost of sales 470,000

Inventories 36,000

Prepaid...

1. Prepare in proper for from December 31, 20X0, balance sheet and the 20X0 income statement for Weikart Company. Include the proper amount for additional paid in capital.