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ABC Co. Sales were $210,000 before a $10,000 return. COGS were $150,000. Salary Expense was $10,000....

ABC Co. Sales were $210,000 before a $10,000 return. COGS were $150,000. Salary Expense was $10,000. Depreciation Expense was $5,000. Bad Debt Expense was $3,000. Interest expense was $1,000. Tax Expense was a $1,000. Retained earnings had a beginning of the year balance of $25,000. Dividends paid were $5,000. The end of year (final) balances are as follows: Cash $50,000; Accounts Receivable had an ending $80,000 balance; Accumulated depreciation had a $60,000 balance; allowance for doubtful accounts had a $20,000 ending balance. Inventory had a $40,000 balance; Equipment a $160,000 balance. . Accounts Payable balance was $25,000; Salary Payable $20,000; Unearned revenue balance was $5,000; common stock a $150,000 balance. Prepare a balance sheet and Income Statement for 12/31/XX.

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