Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2020 2019 ASSETS Cash $41,000 $50,623 Accts. receivable 260,541 200,777 Inventory 503,451 450,702 Total current assets 804,992 702,102 Fixed assets, net 400,000 300,000 Total assets

image text in transcribed
image text in transcribed
image text in transcribed
2020 2019 ASSETS Cash $41,000 $50,623 Accts. receivable 260,541 200,777 Inventory 503,451 450,702 Total current assets 804,992 702,102 Fixed assets, net 400,000 300,000 Total assets $1,204.992 $1,002,102 LIABILITIES AND EQUITY Accts. payable $171,204 $132,610 Bank loan 91,420 91,420 Accruals 70,000 50,000 Total current liabilities 332,624 274,030 Lancoterm debt 122 296 071 202 042 Long-term debt, 12% 386,971 303,962 Common stock, $10 par 300,000 300,000 Capital surplus 43,256 43,256 Retained earnings 142,141 80,854 Total liabilities & equity $1,204,992 $1,002,102 Genatron Manufacturing Corporation Income Statement 2020 2019 Net sales $1,569,571 $1,369,571 Cost of goods sold 941,743 821,743 Gross profit 627,828 547,828 Expenses: General and administrative 150,000 150,000 Marketing 150,000 130,000 Depreciation 52,460 40,933 Calculate Genatron's dollar amount of net workipg capital in each year. 2020 2019 Net working capital $ $ e Textbook and Medin

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions

Question

1. What is unique about their communication?

Answered: 1 week ago