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are these answers correct? Part III. Computational Questions. 10 points each. Without supporting details and explanations, you will get only partial points. 1. UNO Bookstore's
are these answers correct?
Part III. Computational Questions. 10 points each. Without supporting details and explanations, you will get only partial points. 1. UNO Bookstore's 2018 and 2017 balance sheets (in thousands of dollars) are shown. UNO Bookstore December 31 Balance Sheets (in thousands of dollars) 2018 2017 $ $ Assets Cash Accounts receivable Inventories Total current assets Net fixed assets Total assets 102,850 103,365 38.444 244,659 67,165 311,824 89,725 85,527 34,982 210,234 42,436 252,670 S $ s $ $ $ $ S Liabilities and equity Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity 30,761 30,477 16,717 77,955 76,264 154,219 100,000 57.605 157,605 311,824 S $ 23,109 22,656 14,217 59,982 63,914 123,896 90,000 38,774 128,774 252,670 S $ S $ Sales for 2017 were $910,621.16, Cost of goods sold (COGS) was 17% of sales, and Selling, General, and Administrative (SG&A) expenses were $123,456. Furthermore, depreciation and amortization were 127% of net fixed assets, interest was $178,887. The corporate tax rate was 28%. Given this information, construct the UNO Bookstore's 2017 Income statement UNO Bookstore Income Statement (in thousands of dollars) Sales Cost of Goods Sold 2017 $ 910,621.10 $154,805.60 910621.10.17) - In quo Gross Profit-Sales-COGS-910621816-154805, 62 $755 815.54 Selling, General, and Administrative Expenses 1123,456 Depreciation and amortization 42436(1.27) - $53,893.72 EBIT : GP-SGA-D2A = 755815.6-123456-53893.72-- $578465.84 S178897 EBT - EBIT-interest expense = 578465.84-178887 $399578.94 Taxes - EBT (tax rate/100) = 399579.846.28) = $111882.08 Net Income - ERT - taxes = 294578.84-11882.08 = 3287696.76 Interest expense 000.2002 ne 000.2112 mod omnino 000,020,812 000,000,012 wisdom to Step by Step Solution
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