21 Heading No Spacing Normal SECTION 1 Q1: Liss the following information for Taco Swell, Inc., for section (a), (b) and (c). Assume the tax rate is 34% Tace Swell Inc 2006 2007 Sales $ 4,018 S4,312 577 578 Depresiation Cost of Good Sold 1,382 1,569 Selling and Administrative Expenses 328 274 Interest 269 309 Cash 2.107 2,155 Accounts receivables 2.789 3,142 S-T Notes Payable 407 382 Long-term debt 7,056 8,232 Dividends 490 539 Net fixed assets 17,669 18,091 Accounts Payable 2,213 Inventory 2,146 4.959 5,096 (a) Draw up an income statement and balance sheet for this company for 2006 and 2007. (4 Points) B/Sheet ar of Dec 31, 2006-2007 2006 2007 2006 2007 Focus 21 Heading No Spacing Normal SECTION 1 Q1: Liss the following information for Taco Swell, Inc., for section (a), (b) and (c). Assume the tax rate is 34% Tace Swell Inc 2006 2007 Sales $ 4,018 S4,312 577 578 Depresiation Cost of Good Sold 1,382 1,569 Selling and Administrative Expenses 328 274 Interest 269 309 Cash 2.107 2,155 Accounts receivables 2.789 3,142 S-T Notes Payable 407 382 Long-term debt 7,056 8,232 Dividends 490 539 Net fixed assets 17,669 18,091 Accounts Payable 2,213 Inventory 2,146 4.959 5,096 (a) Draw up an income statement and balance sheet for this company for 2006 and 2007. (4 Points) B/Sheet ar of Dec 31, 2006-2007 2006 2007 2006 2007 Focus