The table below contains data on Fincorp, Inc., the balance sheet items correspo

Question

The table below contains data on Fincorp, Inc., the balance sheet items correspond to values at year-end of 2010 and 2011, while the income statement items correspond to revenues or expenses during the year ending in either 2010 or 2011. All values are in thousands of dollars. 2010 2011 Revenue $3,300 $3,400 Cost of goods sold 1,250 1,350 Depreciation 430 450 Inventories 385 520 Administrative expenses 430 480 Interest expense 80 80 Federal and state taxes* 330 350 Accounts payable 385 520 Accounts receivable 502 620 Net fixed assets

Explanation / Answer

Revenue

3300

3400

COGS

-1250

-1350

Depreciation

-430

-450

Admin Expenses

-430

-480

Interest

-80

-80

Taxes

-330

-350

Earnings after tax

780

690

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Revenue

3300

3400

COGS

-1250

-1350

Depreciation

-430

-450

Admin Expenses

-430

-480

Interest

-80

-80

Taxes

-330

-350

Earnings after tax

780

690

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