Income Statement, Statement of Stockholders' Equity, and Balance Sheet

The following financial data were adapted from a recent annual report of Traymate Corporation for the year ending January $31.$

Line Item Description In millions

Accounts payable $$10,286$

Cash $1,191$

Common stock $4,293$

Cost of sales $71,790$

Debt and other borrowings $26,225$

Income tax expense $2,291$

Interest expense $1,299$

Inventories $11,877$

Other assets $4,263$

Other expenses $3,866$

Other liabilities $9,704$

Property and equipment, net $43,724$

Sales $102,699$

Selling, general, and administrative expenses $21,159$

Instructions:

Question Content Area

$1.$ Prepare Traymate's income statement for the year ending January $31.$

Traymate Corporation

Income Statement

For the Year Ended January $31($in millions$)$

Line Item Description Amount Amount

Sales

blank $Sales

$102,699$

Expenses:

Cost of sales

$Cost of sales

$71,790$

Selling, general, and administrative expenses

Selling, general, and administrative expenses

$21,159$

Income tax expense

Income tax expense

$2,291$

Interest expense

Interest expense

$1,299$

Other expenses

Other expenses

$3,866$

Total expenses Total expenses

$$-$ Select $-$

Question Content Area

$2.$ Prepare Traymate's statement of stockholders$$ equity for the year ending January $31.$ Use a minus sign to indicate a net loss. If an amount box is zero, leave it blank.

Line Item Description Amount

Common stock, Feb. $1$ of prior year $$8,588$

Retained earnings, Feb. $1$ of prior year $6,495$

Other stockholder equity items on Feb. $1$ of prior year $16,150$

Dividends $2,099$

Other items affecting retained earnings $(2,068)$

Other items affecting common stock $(2)$

Other items affecting stockholders' equity $126$

Traymate Corporation

Statement of Stockholders' Equity

For the Year Ended January $31($in millions$)$

Line Item Description Common

Stock Retained

Earnings Other

Items

Total

Balances, Feb. $1$ of prior year $Balances, Feb. $1$ of prior year

$Balances, Feb. $1$ of prior year

$Balances, Feb. $1$ of prior year

$Balances, Feb. $1$ of prior year

Net income for year

Net income for year

Net income for year

Net income for year

Net income for year

Dividends

Dividends

Dividends

Dividends

Dividends

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

Balances, January $31$ $Balances, January $31$

$Balances, January $31$

$Balances, January $31$

$Balances, January $31$

Question Content Area

$3.$ Prepare Traymate's balance sheet as of January $31.$

Traymate Corporation

Balance Sheet

January $31($in millions$)$

Line Item Description Amount Amount

Assets

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

Total assets $Total assets

Liabilities

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

Total liabilities $Total liabilities

Stockholders' Equity

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

Total stockholders' equity Total stockholders' equity

Total liabilities and stockholders' equity $Total liabilities and stockholders' equity