Brown Inc. prepared the following adjusted trial balance on December 31, 2020, based on its first year of operations. Using this adjusted trial balance, prepare an income statement for the year ended December 31, 2020, and a balance sheet as of December 31, 2020. Adjusted Trial Balance December 31, 2020 Accounts Debit Credit Cash $ 8,250 $ Accounts receivable 3,750 Prepaid insurance 1,500 Other assets 6,500 Equipment, net 25,000 Accounts payable 5,000 Note payable 10,000 Common stock 10,000 Service revenue 50,000 Selling expenses 10,000 General and administrative expenses 18,750 Interest expense 1,250 Totals $75,000 $75,000

1. gar principles or "the principles"are intended to do what?

The following account balances at the beginning of january were selected from the general ledger of fresh bagel manufacturing​ company: work in process inventory ​$0 raw materials inventory $ 29 comma 000 finished goods inventory $ 40 comma 900 additional​ data: 1. actual manufacturing overhead for january amounted to $ 62 comma 600. 2. total direct labor cost for january was $ 63 comma 600. 3. the predetermined manufacturing overhead rate is based on direct labor cost. the budget for the year called for $ 255 comma 000 of direct labor cost and $ 382 comma 500 of manufacturing overhead costs. 4. the only job unfinished on january 31 was job no.​ 151, for which total direct labor charges were $ 5 comma 700 ​(1 comma 000 direct labor​ hours) and total direct material charges were $ 14 comma 400. 5. cost of direct materials placed in production during january totaled $ 123 comma 300. there were no indirect material requisitions during january. 6. january 31 balance in raw materials inventory was $ 35 comma 200. 7. finished goods inventory balance on january 31 was $ 35 comma 400. what is the cost of goods manufactured for​ january

Sonic corp. manufactures ski and snowboarding equipment. it has estimated that this year there will be substantial growth in its sales during the winter months. it approaches the bank for credit. what is the purpose of such credit known as? a. expansion b. inventory building c. debt management d. emergency maintenance