Question

The following selected account balances were taken from Salmon Company's general ledger at January 1, 2020 and December 31, 2020: 020 December 50,000 39,000 46,000 13,000 44,000 130,000 45,000 anuar 020 Accounts receivable Inventory Accounts payable Salaries payable Investments Common stock Retained earnings 71,000 28,000 54,000 6,000 62,000 110,000 21,000 The following information was taken from Salmon Company's statement of cash flows for 2020: Cash collected from customers Cash paid to purchase inventory Cash paid to employees Cash received from sale of investments Cash paid for dividends $358,000 189,000 80,000 22,000 30,000 Calculate the amount of salaries expense reported in Salmon Company's 2020 income statement. Do not use decimals in your answer

 

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