Question

You are provided with the following information for Blossom Company, effective as of its April 30, 2017, year-end.

Accounts payable		$ 864
Accounts receivable		910
Accumulated depreciation—equipment		670
Cash		1,370
Common stock		1,200
Cost of goods sold		1,090
Depreciation expense		305
Dividends		355
Equipment		2,520
Income tax expense		195
Income taxes payable		165
Insurance expense		240
Interest expense		430
Inventory		1,067
Land		3,200
Mortgage payable		3,600
Notes payable		161
Prepaid insurance		90
Retained earnings (beginning)		1,600
Salaries and wages expense		670
Salaries and wages payable		252
Sales revenue		5,200
Stock investments (short-term)		1,270

what is the balance sheet and liabilities and stockholders equity?

Answer 1

Assets
Cash		1370
Stock investments (short-term)		1270
Account receivable		910
Inventory		1067
Prepaid insurance		90
Land		3200
Equipment	2520
Less: Accumulated depreciation—equipment	-670	1850
Total assets		9757
Liabilities and stockholder's equity
Liabilities
Account payable	864
Income tax payable	165
Salaries and wages payable	252
Mortgage payable	3600
Notes payable	161
Total liabilities		5042
Stockholder's equity
Common Stock	1200
Retained earnings	3515
Total Stockholder's equity		4715
Total liabilities and stockholder's equity		9757