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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 and income statement.

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