Question: It is saying my answer is incomplete. I do not see what part is not complete. Please help. This is just one question. Different pictures
It is saying my answer is incomplete. I do not see what part is not complete. Please help. This is just one question. Different pictures to gain more images of the question.
2 Year 2 Year 1 Income statement Sales revenue $ 190,000 $ 167,000 Cost of goods sold 112,000 100,000 Gross profit 78,000 67,000 Part10of 2 Operating expenses and interest expense 56,000 53,000 S Pretax income 22,000 14,000 Income tax 8,000 4,000 Net income $ 14,000 $ 10,000 10 Balance sheet : Cash $ 4,000 $ 7,000 pelnts Accounts receivable (net) 14,000 18,000 Inventory 40,000 34,000 Property and equipment (net) 45,000 38,000 Total assets $ 103,000 $ 97,000 Current liabilities (no interest) $ 16,000 $ 17,000 Long-term liabilities (interest rate: 10%) 45,000 45,000 Common stock ($5 par value, 6,000 shares outstanding) 30,000 30,000 Retained earnings 12,000 5,000 Total liabilities and stockholders' equity $ 103,000 $ 97,000 Required: 1. Complete the following columns for each item in the preceding comparative financial statements: Answer is not complete. Return to question 2 Required information Income Part10f 2 E Balance sheet o - Complete the following columns for each item in the preceding comparative financial statements: Note: Enter your percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). Decreases should 10 be indicated by a minus sign. points Sales revenue $ 23,000 @ 13.77@ |% Cost of goods sold 12,000 @ 12.00 @ |% Gross profit 11,000 @ 16.42@ |% Operating expenses and interest expense 3,000 @ 5.66 @ |% Pretax income 8,000 @ 5714 @ |% Income tax 4,000 @ 100.00 @ | % Net income $ 4000 40.00 @ |% Return to question 2 Requlred information Complete the following columns for each item in the preceding comparative financial statements: Note: Enter your percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). Decreases should be indicated by a minus sign. Part10f 2 L a 10 points Cash $ (3,000) @ (42.86) @ Accounts receivable (net) (4,000) @ (2222) @ |% Inventory 6,000 @ 1765 @ |% Property and equipment (net) % Total Assets $ (1,000) % Current liabilities (no interest) $ (1,000) @ (5.88) @ |% Long-term liabilities (interest rate: 10%) 0 0.00 @ |% Common stock ($5 par value, 6,000 shares outstanding) 0 0.00 @ |% Retained earnings 7,000 @ 140.00 @ |% Total liabilities and stockholders' equity $ 6,000 % Return to question 2 Requlred information Complete the following columns for each item in the preceding comparative financial statements: Note: Enter your percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). Decreases should be indicated by a minus sign. Part10f 2 L a 10 points Cash $ (3,000) @ (42.86) @ Accounts receivable (net) (4,000) @ (2222) @ |% Inventory 6,000 @ 1765 @ |% Property and equipment (net) % Total Assets $ (1,000) % Current liabilities (no interest) $ (1,000) @ (5.88) @ |% Long-term liabilities (interest rate: 10%) 0 0.00 @ |% Common stock ($5 par value, 6,000 shares outstanding) 0 0.00 @ |% Retained earnings 7,000 @ 140.00 @ |% Total liabilities and stockholders' equity $ 6,000 %
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
Students Have Also Explored These Related Accounting Questions!