Image transcription text
Headland Corporation had the following 2020 income statement. Sales revenue $213,000 Cost of goods
sold 109,000 Gross pro?t 104,000 Operating expenses [includes depreciation of $19,000} 53,000 Net
income $51,000 The following accounts increased during 2020: Accounts Receivable $12,000, I… Show more
sold 109,000 Gross pro?t 104,000 Operating expenses [includes depreciation of $19,000} 53,000 Net
income $51,000 The following accounts increased during 2020: Accounts Receivable $12,000, I… Show more
