Use the following information for Taco Swell, Inc., (assume the tax rate is 21 percent): 2017...

 

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Use the following information for Taco Swell, Inc., (assume the tax rate is 21 percent): 2017 2018 $18,073 $ 16,836 1,791 4,629 1,011 860 Sales Depreciation Cost of goods sold Other expenses Interest 1,866 4,837 889 991 6,262 8,170 6,856 9,817 Cash Accounts receivable Short-term notes 1,300 1,277 payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 20,710 51,174 4,592 14,504 1,600 24,961 54,663 5,034 15,418 1,748 Prepare a balance sheet for this company for 2017 and 2018. (Do not round intermediate calculations.) TACO SWELL, INC. Balance Sheet as of Dec. 31 2017 2018 Assets Cash 6,262 $ 6,856 Accounts receivable 8,170 9,817 Inventory 14,504 15,418 Current assets Net fixed assets 51,174 54,663 Total assets $ 86,754 Liabilities & Equity Accounts payable 24 4,592 5,034 Notes payable 1,300 1,277 Current liabilities $ 6,311 Long-term debt 20,710 24,961 Owners' equity Total liabilities & owners' equity Use the following information for Taco Swell, Inc., (assume the tax rate is 21 percent): 2017 2018 $18,073 $ 16,836 1,791 4,629 1,011 860 Sales Depreciation Cost of goods sold Other expenses Interest 1,866 4,837 889 991 6,262 8,170 6,856 9,817 Cash Accounts receivable Short-term notes 1,300 1,277 payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 20,710 51,174 4,592 14,504 1,600 24,961 54,663 5,034 15,418 1,748 Prepare a balance sheet for this company for 2017 and 2018. (Do not round intermediate calculations.) TACO SWELL, INC. Balance Sheet as of Dec. 31 2017 2018 Assets Cash 6,262 $ 6,856 Accounts receivable 8,170 9,817 Inventory 14,504 15,418 Current assets Net fixed assets 51,174 54,663 Total assets $ 86,754 Liabilities & Equity Accounts payable 24 4,592 5,034 Notes payable 1,300 1,277 Current liabilities $ 6,311 Long-term debt 20,710 24,961 Owners' equity Total liabilities & owners' equity

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Answer TACO SWELL INC Balance sheet as of December 31 2017 2018 Assets Cash 1 6262 6856 Account Rece... View the full answer