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For Week 3, please complete the following for Joe's Fly-By-Night Oil Company, whose latest income statement and balance sheet are shown below. INCOME STATEMENT,
For Week 3, please complete the following for Joe's Fly-By-Night Oil Company, whose latest income statement and balance sheet are shown below. INCOME STATEMENT, 202 Sales $10,000 Cost of goods solc 4.000 Gross profi $6,000 S. G & A expenses EDIT Interest Before-tax Take Net income EPS earnings 3.000 $3,000 $200 $2,800 1.000 $1,800 $1.80 Dividends $600 Addition to retained earnings $1,200 Joe's Fly-by-Night a BALANCE SHEET, as of Dec 31, 2021 ASSETS Cast Accounts receivable Year Sales 2018 $8,200 2019 $8,000 2020 $9,000 2021 $10,000 Inventory Current assets Equipment (gra Less Accum Depreciation Equipment (net Total assets LIABILITIES AND EQUITY Accounts payable Current liabilities Long-term deb Total liabilities Common stock (1,000 shares) Retained earnings Total equity Total liabilities & Equy Net Income $1,500 $1,400 $5.000 3.000 17,000 $25,000 27,000 (12.000) $1,600 $1,800 $15,000 $40,000 $17.000 $17,000 $3,000 Prepare a graph of sales and net income for the years 2018-2021. For the purposes of this exercise, assume the following historical sales and net income figures for Joe's Fly-By- Night Oil: $20,000 $7.000 $13,000 $20,000 $40.000 Comment on the results displayed on the graph. Prepare a pie chart of Joe's Fly-By-Night Oil's expense distribution for 2021 and comment on the results displayed. Prepare a pie chart of Joe's Fly-By-Night Oil's asset distribution for Dec 31, 2021 and comment on the results displayed. Prepare a pie chart of Joe's Fly-By-Night Oil's capital structure for Dec 31, 2021 and comment on the results displayed. Note: Be sure to comment on each of the four graphs. The numbers mean little without your explanatory comments. Case Study Tasks: 1. Revise your Company Overview file based on your instructor's feedback when received. 2. If you haven't done so already, enter the data from your company's last two years' income statements, balance sheets, and statements of cash flows onto an Excel spreadsheet and begin working on the Financial Overview section of your report.
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1 A graph of Sales and Net Income for the year 20182021 2 A Pie Chart of Joes ...Get Instant Access to Expert-Tailored Solutions
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