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Build the Statement of Comprehensive Income and Statement of Financial Position for CanDo Inc. based on the information given below, as of December 31, 2019.
- Build the Statement of Comprehensive Income and Statement of Financial Position for CanDo Inc. based on the information given below, as of December 31, 2019. Round all numbers to the nearest integer.
a. Statement of Comprehensive Income (12 marks)
b. Statement of Financial Position (14 marks)
| Accounts payable | $117,000 |
| Accounts receivable | $174,000 |
| Cash and cash equivalents | $134,000 |
| CoGS | $362,400 |
| Common stock | $1,090,000 |
| Depreciation | $42,000 |
| Dividend payout ratio | 40% |
| Interest paid | $38,000 |
| Inventory | $144,000 |
| Long-term debt | $1,856,000 |
| Net fixed assets | $2,893,000 |
| Sales | $459,000 |
| Short-term debt | $112,000 |
| Tax rate | 31% |
| Number of shares | 1,000,000 |
| Price per share | $0.15 |
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