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At the end of the fiscal year of 2019, Howdy Construction Co., Inc. has the following financial profile (all figures are in dollars): Total Assets:
- At the end of the fiscal year of 2019, Howdy Construction Co., Inc. has the following financial profile (all figures are in dollars):
Total Assets: $1,550,000
Total Liabilities: $960,000
Total revenue: $365,200
Total expenses: $287,250
- What is the total equity of the company?
- What is the net income after taxes? (Assume a 25% tax rate)
- Did the equity increase, decrease or remain the same compared to FY 2018? Why?
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Financial Accounting And Reporting
Authors: Barry Elliott, Jamie Elliott
5th Edition
0273651560, 978-0273651567
