Constructing Financial Statements from Account Data Barth Company reports the following year-end account balances at December 31, 2019. Prepare the 2019 income statement and the balance sheet as of December 31, 2019.
Accounts payable $ 16,000
Inventory $ 36,000
Accounts receivable 30,000
Land 80,000
Bonds payable, long-term 200,000
Goodwill 8,000
Buildings 151,000
Retained earnings 160,000
Cash 148,000
Sales revenue 500,000
Common stock 150,000
Supplies inventory 3,000
Cost of goods sold 180,000
Supplies expense 6,000
Equipment 70,000
Wages expense 40,000