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For the following income statement and balance sheet, fill in the missing information for the calendar year ending in December 31. All assets, liabilities, and
For the following income statement and balance sheet, fill in the missing information for the calendar year ending in December 31.
All assets, liabilities, and equity items are as of the end of the year. | |||||
Current Assets | 150,000 | ||||
Non-current Assets | ____________ | ||||
Total Assets | ____________ | ||||
Current Liabilities | 75,000 | ||||
Long-term Liabilities | ____________ | ||||
Total Liabilities | 171,000 | ||||
CS and Capital in excess of par | 300,000 | ||||
Retained Earnings | ____________ | ||||
Total Stockholders Equity | ____________ |
Sales | 600,000 | ||
COGS | 200,000 | ||
Gross Profit | 400,000 | ||
Expenses | 300,000 | ||
EBIT | 100,000 | ||
Interest Expense | 10,000 | ||
EBT | 90,000 | ||
Tax Expense(40%) | 36,000 | ||
Net Income | 54,000 | ||
Retained Earnings | 150,000 | ||
(Jan 1) | 150,000 | ||
Dividends Declared | 25,000 |
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