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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 |
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