Name: Assessment ## Student ID Section () Fall 2020 Attendance No. FINC 232/332 Question 3 XYZ firm's accountants prepared the following financial statement for year-end 2019: XYZ Income Statement 2019 Sales Revenues $1,509 Cost of goods sold 550 Admin. and selling Expenses 200 Depreciation 65 Interest paid 70 Current tax expense 212 Dividends paid $103 The Balance Sheet as December 2018 2019 Assets Cash $104 $160 Other Current Assets 1,008 1,243 1,644 1,709 $2,756 $3,112 - $428 $389 Net total Fixed Assets Total Assets Liabilities and Equity Account Payables Long-term debts Common stock and paid-in surplus Retained Earnings Total Liabilities and Equity 408 454 600 640 1,320 1,629 $2,756 $3,112 3 Name: Assessment ## Student ID Section () Fall 2020 Attendance No. FINC 232/332 Question 3 XYZ firm's accountants prepared the following financial statement for year-end 2019: XYZ Income Statement 2019 Sales Revenues $1,509 Cost of goods sold 550 Admin. and selling Expenses 200 Depreciation 65 Interest paid 70 Current tax expense 212 Dividends paid $103 The Balance Sheet as December 2018 2019 Assets Cash $104 $160 Other Current Assets 1,008 1,243 1,644 1,709 $2,756 $3,112 - $428 $389 Net total Fixed Assets Total Assets Liabilities and Equity Account Payables Long-term debts Common stock and paid-in surplus Retained Earnings Total Liabilities and Equity 408 454 600 640 1,320 1,629 $2,756 $3,112 3