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Given the following data: Accounts receivable $ 632, 550 Taxes at 30% Calculate Accounts Payable $ 524,000 Interest Expense $ 380,000 Long-Term Debt $ 1,
Given the following data: Accounts receivable $ 632, 550 Taxes at 30% Calculate Accounts Payable $ 524,000 Interest Expense $ 380,000 Long-Term Debt $ 1, 760,000 Advertising Expense $ 120,000 Sales $ 6, 300,000 Travel Expense $ 120,000 Gross Profit $ 2, 400,000 Rent $ 500,000 Depreciation $ 10,000 Notes Payable $ 224,000 Utilities $ 95,000 Cash $ 450,000 Shares of Common Stock 1, 220,000 Inventories $ 1, 250,000 Fixed Assets $ 1, 600,000 Retained Earnings $ 824, 550 Value of Common Stock at par $ 600,000 Calculate an Income Statement in proper form and calculate a Balance Sheet in proper form. Additionally, calculate: A. EPS B. Gross Profit Margin C. Cost of Goods Sold
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