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Bigquiz Corporation (in millions) ($ millions) 2018 2019 sales 550 cost of goods sold 400 depreciation 100 interest rate 10.0% payout 40.0% tax rate 30.0%

Bigquiz Corporation

(in millions) ($ millions)

2018

2019

sales

550

cost of goods sold

400

depreciation

100

interest rate

10.0%

payout

40.0%

tax rate

30.0%

account receivable

26

30

cash

20

inventory

28

32

net fixed asset

300

345

account payable

20

25

note payable

10

10

long-term debt

100

120

common stock

60

60

retained earning

184

shares outstanding

10

  1. Based on the information, prepare the companys balance sheet, income statement and verify that cash flow from asset equal to cash flow to creditors plus cash flow to shareholders.

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