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3. Your task is to create an income statement and a balance sheet for Company A who is a small construction consultant. The basis for
3. Your task is to create an income statement and a balance sheet for Company A who is a small construction consultant. The basis for the financial statements is a list of the company's payments during the current year and some additional information: 12100 Incoming paymernts From customers From the bank for new loans Sum 1850 13950 Outgoing payments To suppliers and employees Interest payment to bank Repayment of loan (amortization) To supplier for investments Tax payments to government Dividends to shareholders Sum -10250 -390 -580 -1900 -90 -280 -13490 Additional information: (i) During the year, accounts receivable increased by 100 (ii) Accounts payable at the end of the year amounts to 1020 (iii) The year's depreciation on fixed assets is 760 (iv) Enter costs as negative numbers in your answers below (v) Fill in the blanks (grey boxes): 31/12 Income statement Sales revenue Operating expenses Depreciation Interest expenses Tax cost Results for the year Balance sheet Fixed assets Accounts receivable Cash and bank balances Total assets 1/1 5000 3000 800 8800 Equity Bank loan Accounts payable Total equity and liabilities 3000 4800 1000 8800
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