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Create a statement of cash flows. Income Statement 2014 2015 Net Sales $ 3,432,000.00 $ 5,834,400.00 Cost of Goods Sold Except Depr. $ 2,864,000.00 $
Create a statement of cash flows.
Income Statement 2014 2015 Net Sales $ 3,432,000.00 $ 5,834,400.00 Cost of Goods Sold Except Depr. $ 2,864,000.00 $ 4,784,208.00 Depreciation and Amortization $ 18,900.00 $ 116,960.00 Other Operating Expenses $ 340,000.00 $ 720,000.00 Total Operatig Expenses $ 3,222,900.00 $ 5,621,168.00 EBIT $ 209,100.00 $ 213,232.00 Less Interest $ 62,500.00 $ 175,000.00 Pre-tax Earnings $ 146,600.00 $ 38,232.00 Taxes (40%) $ 58,640.00 $ 15,293.00 Net Income $ 87,960.00 $ 22,939.00 Balance Sheet 2014 2015 Assets Cash and Equivalents Accounts Receivable Inventories Total Current Assets Net Fixed Assets Total Assets $ 9,000.00 $ 125,357.00 $ 351,200.00 $ 632,160.00 $ 715,200.00 $ 1,287,360.00 $ 1,075,400.00 $ 2,044,877.00 $ 344,800.00 $ 939,790.00 $ 1,420,200.00 $ 2,984,667.00 Liabilities and Equity Accounts Payable Notes Payable Accruals Total Liabilities Long-Term Bonds Common Stock Retained Earnings Total Equity Total Liabilities and Eqity $ 145,600.00 $ 324,000.00 $ 151,400.00 $ 700,000.00 $ 136,000.00 $ 284,960.00 $ 433,000.00 $ 1,308,960.00 $ 323,432.00 $ 1,000,000.00 $ 460,000.00 $ 460,000.00 $ 203,768.00 $ 215,707.00 $ 663,768.00 $ 675,707.00 $ 1,420,000.00 $ 2,984,667.00Step by Step Solution
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