Use the data from the financial statements of a company shown below. Use it to answer...
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Use the data from the financial statements of a company shown below. Use it to answer the 7 questions that follow it. When answering the questions (filling in the blanks), DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign and place it in front of first digit of your answer when your answer is a negative number. Round to the nearest dollar. Income Statement year ending 2016 Sales Revenues Cost of goods sold Fixed costs Selling, general, and administrative expenses Depreciation EBIT Interest expense Taxable Income Taxes Net Income *** Tax rate Dividens paid $100,000 50,000 12,000 9,667 10,000 13,333 10,000 25% 2,000 ASSETS Current Assets Cash Accounts receivable Inventories Total current assets Gross Fixed assets Accumulated depreciation Net Fixed assets Intangible assets TOTAL ASSETS Partial Balance Sheet 12/31/2015 LIABILITIES Current Liabilities. 1,000 Notes payable Accounts payable 5,000 Total current liabilities Long-term debt Total Liabilities 155,000 OWNERS' EQUITY 20,000 Retained earnings (1) Common stock 0 Total owner's equity $150,000 1,000 7,000 (1) These are cumulative retained earnings but textbook simply calls it retained earnings 20,000 70,000 TOTAL LIABILITIES & OWNER'S EQUITY $150,000 ASSETS Current Assets Cash Accounts receivable Inventories Total current assets Gross Fixed assets Accumulated depreciation Net Fixed Assets Intangible assets Total long-term assets TOTAL ASSETS Partial Balance Sheet 12/31/2016 LIABILITIES Current Liabilities Notes payable Accounts payable 10,000 Total current liabilities 20,000 Long-term debt 3,000 OWNERS' EQUITY Retained earnings Common stock 150,000 Total owner's equity 150,000 Total liabilities 0 TOTAL LIABILITIES & OWNER'S EQUITY 8,000 10,000 DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign and place it in front of first digit of your answer when your answer is a negative number. Round to the nearest dollar. 1. What is the amount for Total Assets in 2016? A 2. What is amount for Total Liabilities & Owner's Equity for 2016? 3. What is the change in retained earnings from 2015 to 2016? 4. What is the amount for Retained Earnings in the Balance A 5. What is the amount for Common Stock in A/ 6. What is the amount for Total A 7. What is the A/ A A Sheet in 2016? the Balance Sheet in 2016? Owner's Equity in the Balance Sheet for 2016? amount for Long-Term debt in the Balance Sheet in 2016? Use the data from the financial statements of a company shown below. Use it to answer the 7 questions that follow it. When answering the questions (filling in the blanks), DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign and place it in front of first digit of your answer when your answer is a negative number. Round to the nearest dollar. Income Statement year ending 2016 Sales Revenues Cost of goods sold Fixed costs Selling, general, and administrative expenses Depreciation EBIT Interest expense Taxable Income Taxes Net Income *** Tax rate Dividens paid $100,000 50,000 12,000 9,667 10,000 13,333 10,000 25% 2,000 ASSETS Current Assets Cash Accounts receivable Inventories Total current assets Gross Fixed assets Accumulated depreciation Net Fixed assets Intangible assets TOTAL ASSETS Partial Balance Sheet 12/31/2015 LIABILITIES Current Liabilities. 1,000 Notes payable Accounts payable 5,000 Total current liabilities Long-term debt Total Liabilities 155,000 OWNERS' EQUITY 20,000 Retained earnings (1) Common stock 0 Total owner's equity $150,000 1,000 7,000 (1) These are cumulative retained earnings but textbook simply calls it retained earnings 20,000 70,000 TOTAL LIABILITIES & OWNER'S EQUITY $150,000 ASSETS Current Assets Cash Accounts receivable Inventories Total current assets Gross Fixed assets Accumulated depreciation Net Fixed Assets Intangible assets Total long-term assets TOTAL ASSETS Partial Balance Sheet 12/31/2016 LIABILITIES Current Liabilities Notes payable Accounts payable 10,000 Total current liabilities 20,000 Long-term debt 3,000 OWNERS' EQUITY Retained earnings Common stock 150,000 Total owner's equity 150,000 Total liabilities 0 TOTAL LIABILITIES & OWNER'S EQUITY 8,000 10,000 DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign and place it in front of first digit of your answer when your answer is a negative number. Round to the nearest dollar. 1. What is the amount for Total Assets in 2016? A 2. What is amount for Total Liabilities & Owner's Equity for 2016? 3. What is the change in retained earnings from 2015 to 2016? 4. What is the amount for Retained Earnings in the Balance A 5. What is the amount for Common Stock in A/ 6. What is the amount for Total A 7. What is the A/ A A Sheet in 2016? the Balance Sheet in 2016? Owner's Equity in the Balance Sheet for 2016? amount for Long-Term debt in the Balance Sheet in 2016?
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1 Total asset in 2016 Total current asset Total fixed asset 20000150000 17... View the full answer
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