The financial information for assets and liabilities, revenues and expenses are listed for All State Corp. as of

Question

The financial information for assets and liabilities, revenues and expenses are listed for All State Corp. as of December 31, 2018. Using the information, prepare an income statement, statement of retained earnings and balance sheet (32 marks): $3,500 5,500 10,000 18,300 30,000 12,000 1,500 13,200 Accounts payable Accounts receivable Long-term debt Cash Cost of goods sold Inventory Office expense Rent expense Wages expense Payroll payable Sales revenue Dividends Declared Office supplies Utilities expense Common Shares Retained Earnings, January 1, 2019 Retained Earnings, December 31, 2019 31,400 900 101,000 7,000 4,400 7,500 15,000 10,800 ? The highway patrol is interested in determining the average speed of automobiles traveling on I-75 between Chattanooga and Atlanta. To accomplish this task, the speed of every tenth car passing a particular point on 1-75 is recorded. a. What is the population for this study? b. What constitutes the sample? c. Is speed a categorical or a

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Note: There is an error in the question since the debits and credits do not match for the amounts given. There is a difference of $10400. Kindly check and provide correct numbers under the comments section. All State Corp. Income Statement For the Year Ended December 31, 2019 Sales revenue 101000 Cost of goods sold 30000 Gross profit 71000 Less: Operating expenses Office expense 1500 Rent expense 13200 Wages expense 31400 Utilities expense 7500 Total operating expenses 53600 Net income 17400 All State Corp. Statement of Retained Earnings For the Year Ended December 31, 2019 Retained earnings, January 1, 2019 10800 Add: Net income 17400 28200 Less: Dividends declared 7000 Retained earnings, December 31, 2019 21200 All State Corp. Balance Sheet December 31, 2019 Assets Cash 18300 Accounts receivable 5500 Office supplies 4400 Inventory 12000 Total assets 40200 Liabilities and Shareholders' Equity Accounts payable 3500 Payroll payable 900 Long-term debt 10000 Total liabilities 14400 Common shares 15000 Retained earnings 21200 Total shareholders' equity 36200 Total liabilities and shareholders' equity 50600

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The financial information for assets and liabilities, revenues and expenses are listed for All State Corp

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All State Corp.
Income Statement
For the Year Ended December 31, 2019
Sales revenue		101000
Cost of goods sold		30000
Gross profit		71000
Less: Operating expenses
Office expense	1500
Rent expense	13200
Wages expense	31400
Utilities expense	7500
Total operating expenses		53600
Net income		17400

All State Corp.
Statement of Retained Earnings
For the Year Ended December 31, 2019
Retained earnings, January 1, 2019	10800
Add: Net income	17400
	28200
Less: Dividends declared	7000
Retained earnings, December 31, 2019	21200

All State Corp.
Balance Sheet
December 31, 2019
Assets
Cash	18300
Accounts receivable	5500
Office supplies	4400
Inventory	12000
Total assets	40200
Liabilities and Shareholders' Equity
Accounts payable	3500
Payroll payable	900
Long-term debt	10000
Total liabilities	14400
Common shares	15000
Retained earnings	21200
Total shareholders' equity	36200
Total liabilities and shareholders' equity	50600