CH 11 - EXCEL ANALYTICS 11-1 3 Part 3 of 10 Saved [Ine Tollowing information applies to the questions displayed below.j Edman Company is a merchandiser that has provided the following balance sheet and income statement for this year. Assets Cash 2.5 points Skipped eBook Accounts receivable Inventory Property, plant & equipment (net) Other assets Total assets Liabilities & Stockholders' Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities & stockholders' equity Print References Sales Variable expenses: Cost of goods sold Variable selling expense Total variable expenses Contribution margin Fixed expenses: Fixed selling expenses Fixed administrative expenses Total fixed expenses Net operating income Interest expense (8%) Net income before tax Tax expense (30%) Net income Beginning Balance Ending Balance $ 62,800 160,000 $ 150,000 180,000 230,000 240,000 833,000 793,000 37,000 37,000 $1,322,800 $1,400,000 $ 70,000 $ 80,000 550,000 550,000 410,000 410,000 292,800 360,000 $1,322,800 $1,400,000 This Year $2,500,000 1,600,000 240,000 1,840,000 660,000 T | |l 220,000 300,000 520,000 140,000 44,000 96,000 28,800 67,200 Help