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2. Use the information below to prepare an Income Statement and Balance Sheet for 2011 & 2012. Also include a 40% tax rate expense on
2. Use the information below to prepare an Income Statement and Balance Sheet for 2011 & 2012. Also include a 40% tax rate expense on your pretax income.
| 2011 | 2012 |
Sales | $4,203 | $4,507 |
Cost of Goods Sold | 2,422 | 2,633 |
Depreciation | 785 | 952 |
Interest | 180 | 196 |
Dividends | 225 | 250 |
Current Assets | 2,205 | 2,429 |
Net fixed Assets | 7,344 | 7,650 |
Current Liabilities | 1,003 | 1,255 |
Long-Term debt | 3,106 | 2,085 |
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