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Based on the following information of Kelly and Co. prepare an Income Statement for 2000 and Balance Sheet for 2019 & 2020. Use the tax
Based on the following information of Kelly and Co. prepare an Income Statement for 2000 and Balance Sheet for 2019 & 2020. Use the tax rate of 35%. (10 Marks)
| 2019 | 2020 |
| Amt. in $ | Amt. in $ |
Sales | 3,790 | 3,990 |
Cost of Goods Sold | 2,043 | 2,137 |
Depreciation | 975 | 1,108 |
Interest | 225 | 267 |
Dividends | 200 | 225 |
Current Assets | 2,140 | 2,346 |
Net Fixed Assets | 6,770 | 7,087 |
Current Liabilities | 994 | 1,126 |
Long Term Debt | 2,869 | 2,958 |
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