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2. A company collects the financial information for the past two years (2018 and 2019). The fiscal year of this company is consistent with the
2. A company collects the financial information for the past two years (2018 and 2019). The fiscal year of this company is consistent with the calendar year. Please use the information below to build an income statement and balance sheet for 2018 and 2019 (assume the tax rate of the company is 30 percent). (5 pts.) Sales Depreciation Cost of goods sold Selling, general, and administrative expenses Interest expense Cash Accounts receivable Accrued expenses Long-term debt Net fixed assets 2018 $18,804 2,700 6,470 1,534 1,260 9,862 13,054 1,906 32,304 82,692 2019 $20,182 2,702 7,344 1,282 1,448 12,488 14,704 1,790 38,520 84.664 Owners' equity Accounts payable Inventory 84,248 10,358 23,208 85,354 10,044 23.852 Use if needed for above (in millions) Total revenues Operating income Net income Total assets Total current liabilities Years ended Dec. 31, 2019 $21,076.5 $9,069.80 $6,025.40 $47,510.80 $3.621.0 Years ended Dec. 31, 2018 $21,025.2 $8,822.60 $5,924.30 $3,2811.20 $2,973.50
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