From the Disney financial records provided below,construct the company's balance sheet:

2. Machine and Equipment $450,000.
4. Inventories are $253,125.
6. Cash in the coffer (cash box) $26,000 and cash in the bank $100,000.
8. Account receivable in the amount of $270,000.
10. Employees need to be paid next week in the amount of $40,000, and an outstanding food bill is due next week in the amount of$57,200.
12. Short-term borrowing $60,300.
14. Due to the outstanding loan, accumulated interests are $68,400.
16. Net income leftover from last year that will be re-invested in the company in the amount of $288,225. [This is an accumulated leftover income as well.]
18. A small outstanding business administration loan in the amount of$135,000.
20. The company has shareholders with a capital amount of $450,000.

From the Disney financial records provided below,construct the company's income statement:

2. Proceeds from sales are $3,210,000.
4. Cost of food sold $802,500.
6. Operating expenses are $1,050,000.
8. Depreciation of the equipment is $75,000.
10. Interest expenses that are already paid on the loans are $26,205.
12. The tax bracket for the restaurant is 35%.
14. Construct a common size income statement by showing each line item of the income statement computed as a percentage of sales.

Answer rating: 100% (QA)

Balance Sheet Assets Amount Machine and Equipment 450000 Inventories 253125 Cash in the co... View the full answer