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Problem 120 points) PUT YOUR ANSWERS IN THE ANSWER BOOKLET"! Listed below in scrambled order are account categories and financial statement headings. List them in order (first, second, etc.) on the answer booklet in the order in which they should appear on a maltiple-sten incoms operations. B. Operating Income C. Income taxes D. Gross Profit. E. Consolidated Net Income F. Income from continuing operations. G. Other comprehensive income H. Income Attributable to Noncontrolling Interest L Accumulated other comprehensive income J. Operating Expensers K. Dividends Declared Problem 2 (18 points) PUT YOUR ANSWERS IN THE ANSWER BOOKLET! ccutseevable (VR), and Alowaceor Doutfu Acconts D at the end of the period entries for bad debts, TGA Company has the following balances it's Sales S175,000 ADA: S10,000 (credit) 10% of TGA's sales are cash sales, TGA uses the % of receivables method to estimate bad debt Sales $1,500,000 Accounts Receivable a) and assumes that 896 ofreceiveables are expected to "go bad" What would be BAD DEBT EXPENSE for the period? What would be the reported NET REALIZABLE VALUE of A/R? Ignore your answers to a) above. Before making ies for bad debts, TGA Company has the following balances it's Sales, Accounts Receivable (A/R), and Allowance for Doubtful Accounts (ADA) Sales $1,000,000 Accounts Receivable $150,000 ADA: $15,000 (debit) 10% of TGA's sales are cash sales and TGA uses the % of receivables method to estimate bad debt, assuming that 12% ofreceveables are expected to "go bad" b) What would be BAD DEBT EXPENSE for the period? What would be the reported NET REALIZABLE VALUE of A/R? Ignore your answers to a) and b) above. TGA's financial statements shows the following: Sales $1,250,000 Bad debt expense of $20,000 ADA $25,000 Accounts Receivable $200,000 Assuming TGA uses the % of receivables method, what percentage did they use to estimate their uncollectible accounts? What was the pre-adjustment NET REALIZABLE VALUE of A/R? c)

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