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Determine (1) the firm's net income and (2) stockholders equity. Info to set up the books: Numbers for the 2020 fiscal year: $130 Net Working
Determine (1) the firm's net income and (2) stockholders equity. Info to set up the books: Numbers for the 2020 fiscal year: $130 Net Working Capital $495 Total current liabilities $896 Revenues $80 Total Depreciation Expense for 2020 $120 In 2020 Company purchased a dairy farm for $120 $356 Costs of goods sold Company has long-term debt of $800 on which it pays 6.8% interest. Numbers from the 2019 fiscal year: $940 Long-term Gross Fixed Assets as of Dec 31, 2019 $125 Accumulated depreciation for fixed assets as of Dec 31, 2019|| Guidance: You must prepare the 2020 income statement and the balance sheet to obtain these numbers
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