Looking for Income Statement and Balance Sheet for the Better USA, Inc. company
ID: 2502642 • Letter: L
Question
Looking for Income Statement and Balance Sheet for the Better USA, Inc. company for 2010 and 2011
There are two sets of numbers, after each category. The first will represent 2010 and the second 2011. Need calculations for an Income Statement and Balance sheet for both years 2010 and 2011.
Facts: Sales 11,573 (2010) and 12,936 (2011) - Depreciation 1,661 and 1,736 - Cost of goods sold 3,979 and 4,707 - Other expenses 946 and 824 - Interest 776 and 926 - Cash 6,067 and 6,466 - Accounts receivable 8,034 and 9,427 - Short-term notes payable 1,171 and 1,147 - Long-term debt 20,320 and 24,696 - Net fixed assets 50,888 and 54,273 - Accounts payable 4,384 and 4,644 - Inventory 14,283 and 15,288 - Dividends 1,411 and 1,618
Explanation / Answer
Income statement 2011
Sales . . . . . . . . . . . . . . . . . .$ 12,936
Less: Cost of goods sold . . . . . .4,707
Gross profit . . . . . . . . . . . . . . . . . . . . . . .$8,229
Operating expenses
Depreciation expense . . . . . . . .1,736
Interest expense . . . . . . . . . . . . .926 . . . . 2,662
Income from operations . . . . . . . . . . . . . . .5,567
Other expenses . . . . . . . . . . . . . . . . . . . . . 824
Net Income . . . . . . . . . . . . . . . . . . . . . . $4,743
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