Wilson Company earned $2,000 of cash sales. Sales tax is 10%…
Wilson Company earned $2,000 of cash sales. Sales tax is 10%. Which of the following shows how this event would affect the company’s financial statements (ignore the effects of cost of goods sold)? Balance Sheet Income Statement Statement of Cash Flows Assets = Liabilities + Stockholders’ Equity Revenue − Expense = Net Income A. 2,200 200 2,000 2,000 NA 2,000 2,200 OA B. 2,000 200 1,800 1,800 NA 1,800 1,800 OA C. 2,200 200 2,000 2,000 NA 2,000 NA D. 2,200 200 2,000 2,200 200 2,000 2,200 OA