P161 A similar to Question Help The assets and liabilities

P1-61 A (similar to) -Question Help * The assets and liabilities of Post Weed, Inc., as of December 31, 2016, and revenues and expenses for the year ended on that date follow (Click the icon to view the account totals.) Post Weed, Inc. Income Statement 27,000 99,800 7,000 40,000 84,800 10,500 Note payable Interest axpense Interest payable. 2,600 Property tax expense Accounts payable . 21,000 Rent expense expense 108,500 Accounts receivable 406,000 Service revenue 42,000 Supplies. Building 6,100 9,000 earnings was $364,000, and dividends totaled $109,000 for he year Print Done Net income (loss) Choose from any list or enter any number in the input fields and then click Check Answer Clear All

Solution

Assuming Supplies is an Assets

Revenue
Service Revenue		458600
Expense
Utilities expense	9000
Rent expense	40000
Propert tax expense	7000
Salary expene	108500
Interest expense	10500	175000
Net Income		283600