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1. Make the balance sheet and income statement of XYZ company using the given information. Accumulated depreciation balance is $4,000 before considering current year
1. Make the balance sheet and income statement of XYZ company using the given information. Accumulated depreciation balance is $4,000 before considering current year depreciation expense. Knowing that the company is expecting to use its fixed assets for 5 years calculate the depreciation expense of the year. 2. Calculate liquidity, asset management, profitability and debt management ratios. Accounts payable Accounts receivable 6969 6,000 Interest expense 970 $ 3,200 Long-term debt $ 3,000 Number of shares Short-term notes Cash Cost of goods sold Common stock Income taxes Dividends Gross fixed assets 67 6,300 1,000 outstanding $ 67 67 67 67 7,000 Other assets $ 14,300 $ 19,000 Inventories $ 31,000 Retained earnings $ 400 Sales 67 6969 $ 3,400 3,200 $ 42,000 Selling, marketing. 67 120 and administrative 69 $ 13,000 expenses $ 32,000
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