Question: Complete the balance sheet and income statement. Given: total current assets are $2,170; Net fixed assets are S9,300; Inventory is $1,000; Net working capital is
Complete the balance sheet and income statement. Given: total current assets are $2,170; Net fixed assets are S9,300; Inventory is $1,000; Net working capital is S 350; Notes payable are 500; long-term debt is S3,980; sales is S585,000; costs of goods sold is $273,000; depreciation expense is $71,000; interest expense is $38,000; and tax rate is 35%. Balance Sheet Cash Inventories Accounts Payable Notes Payable Total Current Assets Total Current Liabilities Net Fixed Assets Long-term debt Shareholder's Equity Total liabilities and Total Assets Stockholders' Equit Income Statement Sales Cost of goods sold ation Earnings before interest and taxes Interest e Net profit before Income Statement taxes Taxes (@ 35%) Net income
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
