Use the Information That Follows Concerning Ulrich Computer for the Year

question 72

Essay

Use the information that follows concerning Ulrich Computer for the year ending December 31, 2018 for problems
Several accounts and amounts from the financial statements of Ulrich Computer appear below for the year ending December 31, 2018.
$\begin{array}{ll}\text { Cash } & \$ 11,000 \\\text { Sales Revenue } & 140,000 \\\text { Notes Receivable, 6-month } & 90,000 \\\text { Cost of goods sold } & 60,000 \\\text { Taxes Payable } & 31,000 \\\text { Salaries Expense } & 8,000 \\\text { Accounts Receivable } & 34,000\\\text { Dividends } & 42,000 \\\text { Equipment } & 150,000 \\\text { Accounts Payable } & 8,000 \\\text { Contributed Capital } & 30,000 \\\text { Retained Earnings } & 40,000 \\\text { Rent and Utilities Expense } & 4,000 \\\text { Income Tax Expense } & 20,000 \\\text { Inventory } & 21,000\end{array}$
-How much must Ulrich pay out during its next accounting period for amounts owed?

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Definitions:

Chromosomes

Threadlike structures made of DNA molecules that contain the genes and are located in the nucleus of cells.

X Chromosomes

One of the two types of sex chromosomes, where two X chromosomes typically characterize females and one X and one Y chromosome characterize males.

Monozygotic Twins

Twins that result from one fertilized egg splitting and developing into two embryos, sharing identical genetics.

Identical Twins

Twins that originated from the same fertilized egg, sharing all of their genetic material, and typically having very similar appearances.