Using Table 6-13, create a pro forma balance sheet using the percentage of sales method. If net income next year
a. How much did the owners take out of the business?
b. What is the profit margin for next year?
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Question Posted: July 31, 2015 09:00:46