Draw up an income statement and balance sheet for this company for 2010 and 2011 2010 2011 Sales $ 11,573 $ 12,936 Depreciation 1,661 1,736 Cost of goods sold 3,979 4,707 Other expenses 946 824 Interest 776 926 Cash 6,067 6,466 Accounts receivable 8,034 9,427 Short term notes payable 1,171 1,147 Lo...

Balance sheet as of Dec 31 2010 Cash 6067 Accounts payable 4384 Accounts receivable 8034 Notes payab ...

Draw up an income statement and balance sheet for this company for 2010 and 2011. 2010 2011

Question:

Draw up an income statement and balance sheet for this company for 2010 and 2011.


	2010	2011
Sales	$ 11,573	$ 12,936
Depreciation	1,661	1,736
Cost of goods sold	3,979	4,707
Other expenses	946	824
Interest	776	926
Cash	6,067	6,466
Accounts receivable	8,034	9,427
Short-term notes payable	1,171	1,147
Long-term debt	20,320	24,636
Net fixed assets	50,888	54,273
Accounts payable	4,384	4,644
Inventory	14,283	15,288
Dividends	1,411	1,618

Tax rate	34%	34%

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...