Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Condensed balance sheet and income statement data for Jernigan Corporation are presented here. can someone help fix this thanks JERNIGAN CORPORATION Balance Sheets December 31
Condensed balance sheet and income statement data for Jernigan Corporation are presented here.
can someone help fix this thanks
JERNIGAN CORPORATION Balance Sheets December 31 2014 2013 2012 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $31,723 21,723 19,723 49,723 72,225 53,225 358,000 $744,896 619,896$552,896 $86,723 81,723 $71,723 58,225 328,225 318,225 308,225 114,723 $744,896 $619,896 $552,896 51,723 98,225 63,225 500,000 46,723 103,225 78,225 370,000 Current liabilities Long-term debt Common stock, $10 par Retained earnings 153,225 93,225 176,723 126,7234,723 JERNIGAN CORPORATION Income Statements For the Years Ended December 31 2014 2013 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit $748,225 $608,225 31,723 706,502 576,502 433,225 358,225 273,277 218,277 Operating expenses (including income taxes) 181,723 151.723 41723 1,A es) 181723 151,723 $91,554 $66,554 Net incomeStep 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