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Can you help me through this one? Based on this information, what are the answers to these questions? S&S AIR, INC. 2011 Income Statement $36,599,300
Can you help me through this one?
Based on this information, what are the answers to these questions?
S&S AIR, INC. 2011 Income Statement $36,599,300 Sales Cost of goods sold 26,669,496 4,641,000 Other expenses 1,640,200 Depreciation 3,648,604 EBIT Interest 573,200 3,075,404 Taxable income Taxes (40%) 1,230,162 1,845,242 Net income 560,000 Dividends Add to retained earnings 1,285,242 S&S AIR, INC. 2011 Balance Sheet Liabilities and Equity Assets Current assets Current liabilities 396,900 Accounts payable 844,550 Cash 1,928,500 Accounts receivable 637,560 Notes payable 933,400 2,773,050 Inventory Total current liabilities 1,967,860 Long-term debt 5,050,000 Total current assets Fixed assets Net plant and equipment $15,411,620 Shareholder equity 322,500 Common stock 9,233,930 Retained earnings 9,556,430 Total equity $17,379,480 Total liabilities and equity $17,379,480 Total assetsStep by Step Solution
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