Use the following jumbled account line items and the information in the table below to create two separate statements, a balance sheet and income statement,Candy kay for 2022 and 2021, then fill in the blanks highlighted in green when each statement has been created.

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Tax Rate Dividend payout in 2020 Each financial statement should be professionally formatted and have the relevant headings appropriate to be in compliance with GAAP. Note all values are in thousand Net profits after taxes Total operating expense Accumulated depreciation Total current liabilities Common stock Marketable securities Retained earnings Cost of goods sold Selling expense Total current assets Depreciation expense Net fixed assets Accounts receivable Interest expense Total assets Total liabilities and stockholders' equity Notes payable Inventories General and administrative expenses Gross profits Accounts payable Land Lease expense Long-term debt Sales revenue Cash Taxes Buildings and equipment Operating profits Net profits before taxes 40% $0.00 2020 3,950 31,500 1,100 100,000 16,500 9,800 27,850 5,900 46,800 46,000 10,200 25,000 26,000 1,000 23,560 165,000 550 95,000 2019 38,000 31,500 1,000 26,550 106,000 16,000 10,000 25,000 6,100 47,000 45,500 10,000 22,000 26,000 1.000 22,950 160,000 500 90,000 Tax Rate Dividend payout in 2020 Each financial statement should be professionally formatted and have the relevant headings appropriate to be in compliance with GAAP. Note all values are in thousand Net profits after taxes Total operating expense Accumulated depreciation Total current liabilities Common stock Marketable securities Retained earnings Cost of goods sold Selling expense Total current assets Depreciation expense Net fixed assets Accounts receivable Interest expense Total assets Total liabilities and stockholders' equity Notes payable Inventories General and administrative expenses Gross profits Accounts payable Land Lease expense Long-term debt Sales revenue Cash Taxes Buildings and equipment Operating profits Net profits before taxes 40% $0.00 2020 3,950 31,500 1,100 100,000 16,500 9,800 27,850 5,900 46,800 46,000 10,200 25,000 26,000 1,000 23,560 165,000 550 95,000 2019 38,000 31,500 1,000 26,550 106,000 16,000 10,000 25,000 6,100 47,000 45,500 10,000 22,000 26,000 1.000 22,950 160,000 500 90,000

Answer rating: 100% (QA)

CANDY KAY INCOME STATEMENT FOR THE YEAR END 2020 AND 2021 2020 2019 Particulars Amount Amount ... View the full answer