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Dachshund Corporation Balance Sheets - 2018 Cash Accounts receivable Inventory Equipment (net) Dec. 31 S 15.600 46.800 32,500 57,200 S 152.100 26,000 7.800 14.300 72.800 31.200 4 Accounts payable Dividends payable Long-term note payable Capital stock. $5 par Retained eamings Jan 1 15,600 37.700 36,400 66.300 156.000 28,600 3.900 14.300 72.800 36,400 156.000 Dachshund Corporation Income Statement For the year ended 2018 Sales Cassando ad 238,800 137.50 S For the year ended 2018 Sales Cost of goods sold Gross profit on sales Operating expenses Operating income Interest expense and income taxes Net income 228.800 (137,540 ) 91,260 (75,868) 15,392 (9,100 6,292 S All sales were made on account. Cash dividends declared during the year totaled $11.492. Dachshund Corporation's inventory turnover for 2018 is. 06.64 times 3.99 times 4.23 094 days