Prepare a Balance sheet, income statement, and cash flow statement for the data below?
2003 Data 2004 Data
|
Cash
|
$35,000
|
|
Cash
|
$50,000
|
|
|
Allowance for Doubtful Accounts
|
|
$10,000
|
Allowance for Doubtful Accounts
|
|
$15,000
|
|
Accounts Payable
|
|
50,000
|
Accounts Payable
|
|
50,000
|
|
Income Taxes Payable
|
|
3,000
|
Income Taxes Payable
|
|
5,000
|
|
Note Payable (Long Term) - Bank
|
|
25,000
|
Note Payable (Long Term) - Bank
|
|
20,000
|
|
Bad Debt Expense
|
13,000
|
|
Bad Debt Expense
|
15,000
|
|
|
Retained Earnings
|
|
25,000
|
Retained Earnings
|
|
47,000
|
|
Marketing Expenses
|
85,000
|
|
Marketing Expenses
|
75,000
|
|
|
Depreciation Expense
|
5,000
|
|
Depreciation Expense
|
6,000
|
|
|
Salaries Expense
|
345,000
|
|
Salaries Expense
|
355,000
|
|
|
Administrative Expenses
|
42,000
|
|
Administrative Expenses
|
35,000
|
|
|
Prepaid Expenses
|
5,000
|
|
Prepaid Expenses
|
10,000
|
|
|
Interest Expenses
|
3,000
|
|
Interest Expense
|
2,000
|
|
|
Property, Plant and Equipment
|
70,000
|
|
Property, Plant and Equipment
|
75,000
|
|
|
Accumulated Depreciation
|
|
5,000
|
Accumulated Depreciation
|
©Z&bx.øi5 |
11,000
|