Question: From the following information construct a simple income statement and

From the following information, construct a simple income statement and a balance sheet:
Sales.................. $1,000,000
Finished goods............. 200,000
Long-term debt............. 300,000
Raw materials ............. 100,000
Cash.................. 50,000
Cost of goods sold............. 600,000
Accounts receivable........... 250,000
Plant and equipment........... 400,000
Interest expense............. 80,000
Number of shares outstanding........ 100,000
Earnings before taxes.......... 220,000
Taxes.................. 100,000
Accounts payable............. 200,000
Other current liabilities.......... 50,000
Other expenses............. 100,000
Equity.................. 450,000

View Solution:


Sale on SolutionInn
Sales0
Views138
Comments
  • CreatedMarch 19, 2015
  • Files Included
Post your question
5000