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

  

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Use the following information for Taco Swell, Incorporated, (assume the tax rate is 21 percent): Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets. Accounts payable Inventory Dividends 2021 2020 $21,514 $24,047 3,089 7,397 1,759 1,443 11,279 14,934 2,176 3,229 8,750 1,531 1,723 12,021 17,529 2,133 37,778 45,798 94,601 100,893 8,150 26,551 2,573 8,632 28,421 3,008 Prepare a balance sheet for this company for 2020 and 2021. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) 5 Prepare a balance sheet for this company for 2020 and 2021. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) Total assets Assets Cash Accounts receivable Net fixed assets Inventory Current assets TACO SWELL, INCORPORATED Balance Sheet as of December 31 2020 Liabilities & Equity Notes payable Long-term debt Accounts payable Current liabilities Owners' equity 0 0 $ 0 2021 0 Owners' equity Total liabilities & owners' equity $ 0 $ 0 Prepare an income statement for this company for 2020 and 2021. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Input all amounts as positive values.) Sales COGS Other expenses Depreciation EBIT Interest EBT Taxes (21%) Net income Dividends Additions to RE TACO SWELL, INCORPORATED Income Statement 2020 $ $ $ 0.00 $ 0.00 $ 0.00 $ 0.00 2021 0.00 0.00 0.00 0.00 Use the following information for Taco Swell, Incorporated, (assume the tax rate is 21 percent): Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets. Accounts payable Inventory Dividends 2021 2020 $21,514 $24,047 3,089 7,397 1,759 1,443 11,279 14,934 2,176 3,229 8,750 1,531 1,723 12,021 17,529 2,133 37,778 45,798 94,601 100,893 8,150 26,551 2,573 8,632 28,421 3,008 Prepare a balance sheet for this company for 2020 and 2021. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) 5 Prepare a balance sheet for this company for 2020 and 2021. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) Total assets Assets Cash Accounts receivable Net fixed assets Inventory Current assets TACO SWELL, INCORPORATED Balance Sheet as of December 31 2020 Liabilities & Equity Notes payable Long-term debt Accounts payable Current liabilities Owners' equity 0 0 $ 0 2021 0 Owners' equity Total liabilities & owners' equity $ 0 $ 0 Prepare an income statement for this company for 2020 and 2021. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Input all amounts as positive values.) Sales COGS Other expenses Depreciation EBIT Interest EBT Taxes (21%) Net income Dividends Additions to RE TACO SWELL, INCORPORATED Income Statement 2020 $ $ $ 0.00 $ 0.00 $ 0.00 $ 0.00 2021 0.00 0.00 0.00 0.00

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