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I need help preparing an income statement for a finance class. The information is attached. Use the following information for Ingersoll, Inc., (assume the tax
I need help preparing an income statement for a finance class. The information is attached.
Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent): 2014 Sales $ Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 8,435 1,185 2,756 699 585 4,169 5,499 854 14,120 35,055 4,436 9,730 1,016 2015 $ 9,009 1,186 3,120 594 663 5,263 6,187 806 16,650 35,997 4,245 9,998 1,111 Prepare an income statement for this company for 2014 and 2015. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.) Ingersoll, Inc., Income Statement 2014 (Click to select) 2015 $ $ $ $ $ $ $ $ (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) $ $ (Click to select) Prepare the balance sheet for this company for 2014 and 2015. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.) Ingersoll, Inc. Balance Sheet as of Dec. 31 2014 2015 Assets (Click to select) $ $ $ $ $ $ $ $ $ $ $ $ (Click to select) (Click to select) Current assets (Click to select) Total assets Liabilities (Click to select) (Click to select) Current liabilities (Click to select) (Click to select) Total liabilities & owners' equityStep by Step Solution
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