Reference no: EM132753247

Question: Listed are every account balance for Johnson Company on December 31, 2030. What would be Johnson Company's income statement on that date?

Cost of Goods Sold $180,000

Depreciation Expense $7,000

Accumulated Depreciation $52,000

Patents $10,300

Research and Development Expense $22,000

Sales Revenue $350,000

Salary Expense $44,000

Bad Debt Expense $8,200

Warranty Expense $3,000

Warranties Payable $9,000

Cash $40,000

Unearned Revenue $6,600

Inventory $50,000

Income Tax Expense $14,000

Rent Expense $4,200

Allowance for Doubtful Accounts $6,400

Dividends $20,000

Accounts Receivable $133,000

Property and Equipment $111,000

Goodwill $50,000

Accounts Payable $11,000

Capital Stock $105,000

Retained Earnings (1/1/20) $30,000

Dividends Payable $10,000

Notes Payable $42,000