Use the following information for Taco Swell, Incorporated, $($assume the tax rate is $22$ percent$)$:

$20202021$

Sales $ $20,573$ $ $18,336$

Depreciation $1,8411,916$

Cost of goods sold $4,8794,887$

Other expenses $1,036914$

Interest $8851,016$

Cash $6,3377,006$

Accounts receivable $8,2209,967$

Short$-$term notes payable $1,3501,327$

Long$-$term debt $20,86025,086$

Net fixed assets $51,28454,813$

Accounts payable $4,6725,184$

Inventory $14,58915,468$

Dividends $1,8501,798$

Prepare a balance sheet for this company for $2020$ and $2021.($Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.$)$

Answer rating: 100% (QA)

Answer Okay lets prepare the balance sheets for Taco Swell Incorporated for 2020 and 2021 2020 Bala... View the full answer