Balance Sheet and Income Statement
The Weikart Company had the following items on its December 31, 20X0, balance sheet and 20X0 Income statements (in dollars except for number of shares outstanding):
Cash and equivalents
55,000
Revenues
800,000
Notes payable
51,000
Long term debt, excluding current portion
210,000
Accounts receivable, net
48,000
Provision for income taxes
60,000
Other long term assets
110,000
Interest expense
55,000
Retained Earnings
204,000
Income taxes payable
37,000
cost of sales
470,000
Inventories
36,000
Prepaid expenses
15,000
Common stock (50,000 shares outstanding)
25,000
Property, plant, and equipment at cost
580,000
Accounts payable
43,000
Interest income
15,000
Goodwill, patents, and trademarks
75,000
Current portion of long term debt
16,000
Less: Accumulated depreciation
170,000
Selling and administrative expenses
150,000
Additional paid in capital
?

Prepare in proper form the December 31, 20X0, balance sheet and the 20X0 income statement for Weikart Company, Include the proper amount for additional paid in capital.