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Instant upvote!!! THE QUESTION IS: Please complete the income statement of 2017. Please answer the questions with the help of the attached income statement and

Instant upvote!!!

THE QUESTION IS:

Please complete the income statement of 2017.

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Please answer the questions with the help of the attached income statement and balance sheet and the information provided below. Some of the numbers (highlighted yellow) in the income statement and balance sheet are intentionally missing. You are supposed to calculate the relevant numbers before answering the questions. In 2018, the cost of goods sold (COGS) has increased 40% compared to COGS of 2017 . Interest expenses in 2018 are 5.5 times higher than 2017 interest expenses . Corporate tax rate is 22% 2018 net profit is 1.25 times of 2017 net profit 31.12.2018 31.12.2017 26,408,844 18,736,447 13,480,960 5,255,487 208,281 415,887 322,163 Net Sales Cost of Goods Sold (COGS) Gross Profit Marketing Expenses General and Administrative Expenses Operational Profit Interest Expenses Profit Before Tax Tax Net Profit 223,607 999,943 31.12.2018 31.12.2017 ASSETS Current Assets Cash Trade Receivables Inventory Other Current Assets Total Current Assets 3,659,336 2,535,440 2,582,106 8,063,214 5,039,509 355,439 126,236 10,283,291 Fixed Assets Machinery Accumulated Depreciation (-) Machinery (Net) Buildings Total Fixed Assets Total Assets 16,060,211 13,071,862 -9,000,000 -7,100,000 7,060,211 5,971,862 283,516 211,311 7,343,727 6,183,173 16,466,464 LIABILITIES Short Term Liabilities Short Term Financial Debts Short Term Trade Payables Other Short Term Debts Total Short Term Liabilities 3,954,083 1,852,165 189,476 5,995,724 910,629 177,938 3,328,567 Long Term Liabilities Long Term Financial Debts Long Term Trade Payables Total Long Term Liabilities 6,987,767 568,800 587,999 3,941,654 Shareholders' Equity Paid in Capital Retained Earnings Net Profit Total Shareholders' Equity Total Liabilities 3,500,000 2,339,334 4,431,565 8,858,192 3,500,000 2,144,646 3,545,252 9,132,867 16,466,464

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