Question
Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400 Accruals 16,200 13,500 Additional paid in capital 200,000 216,660 Cash ??? ???
Category | Prior year | Current year |
Accounts payable | 41,400 | 45,000 |
Accounts receivable | 115,200 | 122,400 |
Accruals | 16,200 | 13,500 |
Additional paid in capital | 200,000 | 216,660 |
Cash | ??? | ??? |
Common Stock @ par value | 37,600 | 42,000 |
COGS | 131,400 | 171,352.00 |
Depreciation expense | 21,600 | 23,794.00 |
Interest expense | 16,200 | 16,828.00 |
Inventories | 111,600 | 115,200 |
Long-term debt | 135,000 | 139,414.00 |
Net fixed assets | 379,043.00 | 399,600 |
Notes payable | 59,400 | 64,800 |
Operating expenses (excl. depr.) | 50,400 | 62,481.00 |
Retained earnings | 122,400 | 136,800 |
Sales | 255,600 | 337,867.00 |
Taxes | 9,900 | 18,575.00 |
What is the firm's net income for the current year?
Answer format: Number: Round to: 0 decimal places.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started