With the following data, prepare a statement of income and a statement of financial position. You will

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With the following data, prepare a statement of income and a statement of financial position. You will have fill in the missing financial statement accounts.

Cost of sales ............$ 700,000

Profit for the year.......... 65,000

Share capital............. 500,000

Long-term borrowings ........ 800,000

Total current assets ......... 500,000

Gross profit ............ 300,000

Distribution costs.......... 200,000

Total equity............. 1,100,000

Total assets.............. 2,500,000

Total current liabilities........ 600,000

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Finance for Non Financial Managers

ISBN: 978-0176530839

7th edition

Authors: Pierre Bergeron

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Question Posted: Dec 03, 2014 09:15 AM

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With the following data, prepare a statement of income and a statement of financial position. You will

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Finance for Non Financial Managers

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