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Balance Sheet 12/31/20 Assets Cash 200,000 Supplies 231,000 AR 503,000 Inventory 389,000 Land 572,000 Bld 1,500,000 Machinery 1,866,000 Vehicles 633,000 Equipment 98,000 Total Assets 5,992,000
| Balance Sheet 12/31/20 | ||
| Assets | ||
| Cash | 200,000 | |
| Supplies | 231,000 | |
| AR | 503,000 | |
| Inventory | 389,000 | |
| Land | 572,000 | |
| Bld | 1,500,000 | |
| Machinery | 1,866,000 | |
| Vehicles | 633,000 | |
| Equipment | 98,000 | |
| Total Assets | 5,992,000 | |
| Liability & Stockholder | ||
| AP | 382000 | |
| Saalries Payable | 159000 | |
| Note Payable | 79000 | |
| Long term debt | 1073000 | |
| Common stock | 191000 | |
| PREFFERED STOCK | 678000 | |
| Rearnings | 3430000 | |
| Total Libility and capital | 5992000 | |
| Income Statement | ||
| 12/31/2020 | ||
| Revenues | 3174000 | |
| Sales | 2088000 | |
| CGS | 1086000 | |
| gp | ||
| operting | ||
| Adverting | 200000 | |
| Salries | 128000 | |
| Depreciation | 200000 | |
| Interest | 94000 | |
| Travel | 39000 | |
| 661000 | ||
| IBT | 425000 | |
| Tax expense | 125000 | |
| NIAT | 300000 | |
| 1 Yer 365 days | ||
| credit sales 80 % on sales | 160000 | |
| credit purchase=40% of cgs | 434400 | |
| dividend on ps | 50,000 | |
| dividens on cs | 60000 | |
| principal payment | 40,000 | |
| incme tax rate | 10% | |
| 1.Quick ratio is | ||
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Public Finance
Authors: Harvey Rosen, Robert Guell, Ted Gayer
9th Edition
0073511358, 9780073511351
