rks Window Help tion.com 02 Pre-Built Problems Saved Help Save & E Che Use the f

Question

rks Window Help tion.com 02 Pre-Built Problems Saved Help Save & E Che Use the following information for Taco Swell, Inc. (assume the tax rate is 24 percent);: Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes $19,573 $17,736 1,821 1,896 4,867 1,026 904 875 1,006 6,307 6,946 9,907 4,779 8,200 1,330 1,307 payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 20,800 25,036 51,240 54,753 4,640 5,124 14,555 15,448 1,750 1,778 Prepare a balance sheet for this company for 2017 and 2018. (Do not round intermediate calculations.) TACO SWELL, INC. Balance Sheet as of Dec. 31 2017 2018 Assets

Explanation / Answer

Income Statement for the Company for 2017 and 2018 TACO SWELL INC. Income Statement   2017 2018 Sales $19,573.00 $17,736.00 COGS $4,779.00 $4,867.00 Other Expenses $1,026.00 $904.00 Depreciation $1,821.00 $1,896.00 EBIT $11,947.00 $10,069.00 Interest $875.00 $1,006.00 EBT $11,072.00 $9,063.00 Taxes @ 24% $2,657.28 $2,175.12 Net Income $8,414.72 $6,887.88 Dividends $1,750.00 $1,778.00 Addition to RE $6,664.72 $5,109.88 Balance Sheet for the Company for 2017 and 2018 TACO SWELL INC. Balance Sheet as of Dec.31 2017 2018 Assets Cash $6,307.00 $6,946.00 Accounts Receivables $8,200.00 $9,907.00 Inventory $14,555.00 $15,448.00 Current Assets $29,062.00 $32,301.00 Net Fixed Assets $51,240.00 $54,753.00 Total Assets $80,302.00 $87,054.00 Liabilities and Equity Short term notes Payable $1,330.00 $1,307.00 Accounts Payable $4,640.00 $5,124.00 Current Liabilities $5,970.00 $6,431.00 Long Term debt $20,800.00 $25,036.00 Equity $53,532.00 $55,587.00 Total Liabilities and Equity $80,302.00 $87,054.00

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.