Income Statement Balance Sheet Sales $ 7,900 Current assets $ 3,900 Current liabilities $ 2,100 Costs 5,500 Fixed assets 8,600 Long-term debt 3,700 Taxable income $ 2,400 Equity 6,700 Taxes (25%) 600 Total $ 12,500 Total $ 12,500 Net income $ 1,800
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Glenn Company purchased merchandise inventory with an invoice price of $9,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Glenn Company pays within the discount period? a. $8,100 b. $8,280 c. $8,820 d. $9,000
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