Please complete the following: Prepare Net Income Statements for both years Prepare Balance Sheets for both years
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Prepare Net Income Statements for both years
Prepare Balance Sheets for both years
Prepare Cash Flow Statement for Next Year
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Account Cost of Goods Sold Cash Current Yr $96,952.00 $13,990.00 $27,370.00 Depreciation Expense Interest Expense Other Fixed Expenses Accounts Payable Net Fixed Assets Sales Accounts Receivable Short-Term Notes Payable $11,270.00 Long-Term Debt Inventory Existing Common Stock $38,569.00 $5,950.00 $19,067.00 $24,725.00 $120,750.00 $190,199.00 $9,913.00 $60,950.00 $20,861.00 $12,305.00 1/1 Retained Earnings Balance $13,656 $0.00 New Common Stock Issue $0.00 Next Yr $122,418.00 $21,137.00 $30,936.00 $6,820.00 $24,886.00 $28,003.00 $147,115.00 $231,840.00 $12,859.00 Other Information: • % Net Income paid out in dividends: 50% • Tax Rate: 20% $70,150.00 $28,628.00 $0.00 $12,000.00 Account Cost of Goods Sold Cash Current Yr $96,952.00 $13,990.00 $27,370.00 Depreciation Expense Interest Expense Other Fixed Expenses Accounts Payable Net Fixed Assets Sales Accounts Receivable Short-Term Notes Payable $11,270.00 Long-Term Debt Inventory Existing Common Stock $38,569.00 $5,950.00 $19,067.00 $24,725.00 $120,750.00 $190,199.00 $9,913.00 $60,950.00 $20,861.00 $12,305.00 1/1 Retained Earnings Balance $13,656 $0.00 New Common Stock Issue $0.00 Next Yr $122,418.00 $21,137.00 $30,936.00 $6,820.00 $24,886.00 $28,003.00 $147,115.00 $231,840.00 $12,859.00 Other Information: • % Net Income paid out in dividends: 50% • Tax Rate: 20% $70,150.00 $28,628.00 $0.00 $12,000.00
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1 Net Income Statements For the Current Year Sales 19019900 Cost of Goods Sold 9695200 Depreciation Expense 2737000 Interest Expense 595000 Other Fixe... View the full answer
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1285190907
8th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Posted Date:
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