Textcon Inc. has the following financial information for 2013 and 2014

a) Construct a balance sheet for Textcon Inc. for 2013 and 2014. What is shareholders? equity?

b) Please construct an income statement for Textcon Inc. for 2013 and 2014. What were reinvested earnings for 2014?

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Revenue Cost of Goods Sold Depreciation Inventories Administrative Expenses Interest Expenses Taxes Accounts Payable Accounts Receivable Net Fixed Assets Long-term Debt Notes Payable Dividend Paid Cash and Equivalent 1000 2013 4000 1600 500 300 500 150 400 300 400 5000 2000 410 800 600 2014 4100 1700 520 350 550 150 420 350 450 5800 2400 410 310 Revenue Cost of Goods Sold Depreciation Inventories Administrative Expenses Interest Expenses Taxes Accounts Payable Accounts Receivable Net Fixed Assets Long-term Debt Notes Payable Dividend Paid Cash and Equivalent 1000 2013 4000 1600 500 300 500 150 400 300 400 5000 2000 410 800 600 2014 4100 1700 520 350 550 150 420 350 450 5800 2400 410 310

Answer rating: 100% (QA)

a BALANCE SHEET ASSETS 2013 2014 Cash and Equivalent 800 310 Accounts Receivabl... View the full answer