Question: need help creating a 2005 income statement using the data below. Construct the 2005 Income statement using the data below: Long term debt $ 750

Construct the 2005 Income statement using the data below: Long term debt $ 750 Common Stock $ 130 Retained Earning $ 810 Accruals $ 140 Cash 10 Notes Payable $ 110 Accounts Receivables $ 375 Inventories $ 615 Accounts Payable $ 60 Net fixed assets $ 1,000 Sales $ 3,000 Interest $ 88 Net fixed assets $ 1.000 Sales $ 3,000 Interest $ 88 Corporate tax rate 40% Dividends $ 57.50 Depreciation $ 100 2004 Retained Earning $ 750 Market price per share $23.06 Earnings Per Share (EPS) $2.35 Initial price per share $50/share Operating cost (COGS) $ 2,616.20
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