Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Income statement: 2019 Sales 1115 COGS 200 Depreciation expense 10 sales, general, admin expense 100 R&D expense 50 Wages and salary expense 80 EBIT 675

Income statement: 2019
Sales 1115
COGS 200
Depreciation expense 10
sales, general, admin expense 100
R&D expense 50
Wages and salary expense 80
EBIT 675
Interest expense 40
EBT 635
tax expense 100
Net Income 535
Balance Sheet 2018 2019
Cash 500 550
A/R 300 320
Inventory 600 510
Prepaid expenses 20 10
Total Current Assets 1420 1390
Fixed assets 800 900
Accumulated depreciation 100 110
Total assets 2120 2180
Liabilities
Accounts Payable 600 610
Interest payable 14 18
Salaries and Wages payable 100 140
tax payable 50 40
Other current liabilities 10 15
Total current liabilities 774 823
Long term debt 600 600
Common stock 346 348
Retained earnings 400 409
Total liabilities and shareholders equity 2120 2180

Calculate cash to suppliers. If it is an outflow, use a minus sign, i.e., if the answer is an outflow of 1000, enter -1000.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Canadian Multinationals And International Finance

Authors: Gregory P. Marchildon, Duncan McDowall

1st Edition

0714634816, 978-0714634814

More Books

Students also viewed these Finance questions

Question

=+3. Who provides money?

Answered: 1 week ago

Question

b. Why were these values considered important?

Answered: 1 week ago