Question: Can you help me through this one? Based on this information, what are the answers to these questions? S&S AIR, INC. 2011 Income Statement $36,599,300

Can you help me through this one?

Can you help me through this one? Based on this information, whatBased on this information, what are the answers to these questions?

are the answers to these questions? S&S AIR, INC. 2011 Income Statement

S&S AIR, INC. 2011 Income Statement $36,599,300 Sales Cost of goods sold 26,669,496 4,641,000 Other expenses 1,640,200 Depreciation 3,648,604 EBIT Interest 573,200 3,075,404 Taxable income Taxes (40%) 1,230,162 1,845,242 Net income 560,000 Dividends Add to retained earnings 1,285,242 S&S AIR, INC. 2011 Balance Sheet Liabilities and Equity Assets Current assets Current liabilities 396,900 Accounts payable 844,550 Cash 1,928,500 Accounts receivable 637,560 Notes payable 933,400 2,773,050 Inventory Total current liabilities 1,967,860 Long-term debt 5,050,000 Total current assets Fixed assets Net plant and equipment $15,411,620 Shareholder equity 322,500 Common stock 9,233,930 Retained earnings 9,556,430 Total equity $17,379,480 Total liabilities and equity $17,379,480 Total assets

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