What is the amount of Net Fixed Assets as of 12/31/2020? Income Sistement year ending 2020 Sales

What is the amount of Net Fixed Assets as of 12/31/2020?

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Income Sistement year ending 2020 Sales Revenues Cost of goods sold Fixed costs $120,000 30,000 20,000 Selling, general, and administrative expenses 25,000 Depreciation EBIT nterest expense Taxable Income Taxes Net Income 6,000 2,000 30% $1000 Dividens paid 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 12/31/2019 LIABILITIES Current Liabilities $4,000 Notes payable 7,000 Accounts payable 8.000 Total current liabilities Long-term debt Total Liabilities 70,000 OWNERS' EQUITY 15.009 Retained earnings (1) Common stock Total owner's equity TOTAL LIABILITIES & OWNER'S EQUITY (These are cumulative retained earnings but textbook simply calls it nedings Partial Balance Sheet 12/31/2020 ASSETS Current Assets Cash Accounts receivable Inventories Total current assets Gross Fixed asacts Accumulated depreciation Net Fixed Assets Intangible assets Total long-term assets TOTAL ASSETS LIABILITIES Current Liabilities $4,000 Notes payable 9,000 Accounts payable 3.000 Total current liabilities Long-term debt 100,000 Total liabilities OWNERS EQUITY Retained earnings Common stock Total owner's equity TOTAL LIABILITIES & OWNER'S EQUITY When answering the question, DO NOT use dollar signs, DO NOT 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. For example, if you obtain a value of $2,040 then enter 2040 The amount of Net Fixed Assets (NFA) as of 12/31/2020 is Your Answer Income Sistement year ending 2020 Sales Revenues Cost of goods sold Fixed costs $120,000 30,000 20,000 Selling, general, and administrative expenses 25,000 Depreciation EBIT nterest expense Taxable Income Taxes Net Income 6,000 2,000 30% $1000 Dividens paid 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 12/31/2019 LIABILITIES Current Liabilities $4,000 Notes payable 7,000 Accounts payable 8.000 Total current liabilities Long-term debt Total Liabilities 70,000 OWNERS' EQUITY 15.009 Retained earnings (1) Common stock Total owner's equity TOTAL LIABILITIES & OWNER'S EQUITY (These are cumulative retained earnings but textbook simply calls it nedings Partial Balance Sheet 12/31/2020 ASSETS Current Assets Cash Accounts receivable Inventories Total current assets Gross Fixed asacts Accumulated depreciation Net Fixed Assets Intangible assets Total long-term assets TOTAL ASSETS LIABILITIES Current Liabilities $4,000 Notes payable 9,000 Accounts payable 3.000 Total current liabilities Long-term debt 100,000 Total liabilities OWNERS EQUITY Retained earnings Common stock Total owner's equity TOTAL LIABILITIES & OWNER'S EQUITY When answering the question, DO NOT use dollar signs, DO NOT 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. For example, if you obtain a value of $2,040 then enter 2040 The amount of Net Fixed Assets (NFA) as of 12/31/2020 is Your Answer

Answer rating: 100% (QA)

Answer Sales Revenues 5120000 Cost of Goods Sold 30000 Fired Costs 20000 ... View the full answer