Liabilities and Stockholders’ EquityAccounts payable 2014 $28,8202013 $ 16,560Income taxes payable 2014 7,2602013 8,130Bonds payable 2014 27,0002013 32,440Common stock 2014 17,3802013 14,880Retained earnings 2014 45,1502013 41,030 Total 2014 $125,6102013 $113,0402.During the year equipment was sold for $8,020 cash. This equipment cost $17,960 originally and had a book value of $8,020 at the time of sale.3.All depreciation expense, $15,480, is in the operating expenses.Further analysis reveals the following.1.Accounts payable pertain to merchandise suppliers.2.All operating expenses except for depreciation were paid in cash.What is the operating expenses in the income statement?
RECOMMENDED!!ACC 206-Liabilities and Stockholders’ Equity
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