Question: 2:4 two missing boxes help (Working with an income statement and balance sheet) Prepare a balance sheet and income statement for Kronlokken Company from the




(Working with an income statement and balance sheet) Prepare a balance sheet and income statement for Kronlokken Company from the scrambled list of items shown in the popup window. B a. What is the firm's not working capital and debt ratio? b. Complete a common-sized income statement and a common-sized balance sheet c. Interpret your findings, Balance Sheet ASSETS Cash Accounts receivables Inventories Prepaid expenses Total current assets Gross buildings and equipment Accumulated depreciation 225,087 153, 174 99,561 13,860 491,682 896.881 (266 402) (Click on the following icon in order to copy its contents into a spreadsheet.) Depreciation expense Cash Long-term debt Sales Accounts payable General and administrative expenses Buildings and equipment Notes payable Accounts receivable Interest expense Accrued operating expenses Common stock Cost of goods sold Inventory Taxes Accumulated depreciation Prepaid expenses Taxes payable Retained earnings $68,508 225,087 331,999 575,877 102,530 77,633 896,881 74,600 153,174 4,873 7,845 287,126 295,537 99,561 51,730 - 266,402 13,860 56,692 261,369 Print Done Complete the part of the balance sheet below: (Round to the nearest dollar NOTE Input the Accumulated Depreciation account as a negative value.) Kronlokken Company Balance Sheet ASSETS Cash 225,087 Accounts receivables 153,174 Inventarios 99,561 Prepaid expenses 13,860 Total current assets 491,682 Gross buildings and equipment 896,881 Accumulated depreciation (266,402) Net fixed assets $ 630,479 Total assets 1,122,161 $ Kronlokken Company Balance Sheet (Cont'd) LIABILITIES AND EQUITY Liabilities Accounts payable $ 102,530 Accrued operating expenses 7,845 Taxes payable 56,692 Notes payable 74,600 Total current liabilities $ 241,667 Long-term debt 331,999 Total liabilities $ 573,666 Equity Common stock $ 287,126 Retained earnings 261,369 Total equity $ 548,495 Total liabilities and equitu 1,122,161 Complete the income statement below: (Round to the nearest dollar. NOTE: You may input expense accounts as negative values.) Kronlokken Company Income Statement Sales $ 575,877 Cost of goods sold 295,537 Gross profits $ 280,340 General and admin, expenses $ Depreciation expense Total operating expenses $ 146,141 Operating income (EBIT) $ 134,199 Interest expenso 4,873 Earnings before taxes 129,326 Taxos 51.730 77,596 Net Income
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