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Below is a random list of items that belong on either an agribusinesses balance sheet or income statement. Using this information, construct a balance sheet
Below is a random list of items that belong on either an agribusinesses balance sheet or income statement. Using this information, construct a balance sheet dated December 31, 2019 and an income statement from January 1, 2019 to December 31, 2019. NOTE: You need to create both a balance sheet and income statement from everything below that is formatted so that a manager can easily read the information. Every item will only be used once. I would first figure out if the items belong on a balance sheet or income statement, then arrange them accordingly. Account Receivables $ 4,676,000.00 Accounts Payable $ 3,340,000.00 Cash And Cash Equivalents $ 797,000.00 Cost of Goods Sold $ 14,637,000.00 Current Portion of Long Term Debt $ 13,000.00 Discounts, Returns, and Allowances $ 125,000.00 Gross Sales $ 15,526,000.00 Income Tax Expense $ 68,000.00 Intangible Assets $ 3,970,000.00 Interest Expense $ 91,000.00 Inventory $ 9,820,000.00 Labor Expense (Operating Expense) $ 3,500.00 Long Term Investments $ 5,242,000.00 Long Term Liabilities $ 6,657,000.00 Other Current Assets $ 5,354,000.00 Other Current Liabilities $ 5,886,000.00 Other Expense (Operating Expense) $ 4,000.00 Other Long Term Liabilities $ 2,362,000.00 Other Non-Current Assets $ 859,000.00 Property Plant and Equipment $ 10,123,000.00 Selling, General, and Administrative (Operating Expense) $ 509,000.00 Utility Expense (Operating Expense) $ 2,500.00 The following items also need to be on the balance sheet or income statement, but will need to be calculated. In other words, you will use the numbers given above and be able to calculate these items. Total Current Assets Total Non-Current Liabilities Gross Profit/Margin Total Non-Current Assets Total Liabilities Total Operating Expenses Earnings Before Interest and Taxes Total Assets Equity (EBIT) Total Current Liabilities Net Sales Earnings Before Taxes (EBT) Net Income
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