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Prepare (a) a single step income statement, (b) a statement of owner’s equity, and (c) a balance sheet in report form from the following data for Kooper Co., taken from the ledger after adjustment on December 31, 2010 the end of the fiscal year.
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Accounts Payable
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$ 97,200
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Accounts Receivable
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64,300
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Accumulated Depreciation Office Equipment
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72,750
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Accumulated Depreciation Store Equipment
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162,100
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Administrative Expenses
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56,500
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Maeve Kooper, Capital
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81,750
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Cash
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53,000
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Cost of Merchandise Sold
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121,700
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Maeve Kooper, Drawing
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52,000
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Interest Expense
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12,000
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Merchandise Inventory
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93,250
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Note Payable, Due 2012
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154,000
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Office Equipment
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149,750
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Prepaid Insurance
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6,500
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Rent Revenue
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17,500
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Salaries Payable
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28,700
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Sales (net)
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365,500
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Selling Expenses
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41,500
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Store Equipment
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325,000
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Supplies
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4,000
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