Question: please answer With the information given below, construct Pedro Inc.'s Balance Sheet, Income Statement and Retained Earnings Statement for 2016 (NO PREFERRED STOCK). (In 000's)
With the information given below, construct Pedro Inc.'s Balance Sheet, Income Statement and Retained Earnings Statement for 2016 (NO PREFERRED STOCK). (In 000's) December 31, 2016 Cash $ ? Notes Payable 500,000 Sales 10,000,000 Accounts Receivable 850,000 Accounts Payable 1,200,000 Long-term Debt 18,000,000 Common Stock (10,000 shares) 10,000 Additional Capital 4,990,000 Retained Earnings (2015) 5,050,000 Gross Fixed Assets 32,350,000 Cost of Goods Sold 4,000,000 Other Operating Expenses 1,450,000 Inventory 1,980,000 Interest Expense 2,500,000 Tax Rate 50% Depreciation Expense 50,000 Accumulated Depreciation 6,050,000 Dividends 5,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
