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Bercelo inc 2020 Income Statement Net Sales $6,080 Less: Cost of Goods Sold -$3,890 Less: Depreciation -$860 Earnings before interest and taxes $1,330 Less: Interest

Bercelo inc 2020 Income Statement Net Sales $6,080 Less: Cost of Goods Sold -$3,890 Less: Depreciation -$860 Earnings before interest and taxes $1,330 Less: Interest paid -$270 Taxable Income $1,060 Less: Taxes -$360 Net Income $700 Bercelo Inc Balance Sheet 2020 Cash $560 Accounts Receivable $840 Inventory $1,390 Total $2,790 Net Fixed Assets $4,660 Total Assets $7,450 Accounts Payable $610 Notes Payable $50 Total $660 Long-term Debt $3,480 Common Stock $2,250 Retained Earnings $1,060 Total Liabilities and owners' equity $7,450

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