Question: Please answer all five parts by using the information provided. 1) What was the net operating profit after taxes this year? 2) What was the
Intro Below is the balance sheet for Glucose Control Company as of Dec. 31. The company had an EBIT of $79,000 and depreciation of $20,000 this year, and a tax rate of 35%. Last This Liabilities and. Last This year year 10,000 12,000 Accounts payable 20,000 22,000 6,000 6,000 Assets year year Equity Cash Marketable securities Accounts receivable Inventory Current assets 42,000 38,200 Total liabilities 121,000 108,000 Machines Real estate Net fixed assets 114,000 120,800 Equity 0 Notes payable 6,000 5,400 Current liabilities 26,000 28,000 26,000 20,800 Long-term debt 95,000 80,000 34,000 40,800 Paid-in capital 20,000 20,000 80,000 80,000 Retained earnings 15,000 31,000 35,000 51,000 156,000 159,000 Total assets 156,000 159,000 Total liab. & equity
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
