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*NEEDED ASAP* Give proper equations, values & answers along with explanations Please! I only need part E Halifax Sports Inc. Balance Sheet (5000) Halifax Sports
*NEEDED ASAP* Give proper equations, values & answers along with explanations Please! I only need part E
Halifax Sports Inc. Balance Sheet (5000) Halifax Sports Inc. Balance Sheet (5000) ASSETS Current Assets Cash 2020 2019 2020 Sales Revenues Cost of Goods Sold 160,000 96,000 2019 125,000 75,000 485 9,000 64,000 50,000 Contribution Margin Operating Expenses Salaries Wages General/Admin Amort/Depr. Interest 11,000 16,000 10,000 10,000 6,100 11,000 12,500 10,000 4,500 3,000 10,900 9,000 Eamings B4 Taxes Taxes Earnings After tax 5,450 4,500 Short-term Investments 10 Cert. of Deposit 5 Accounts Receivable 16,000 12,500 Inventory 45,500 29,000 Total Current Assets 62,000 50,500 Land 26,000 20,000 Buildings and Equipment 100,000 70,000 Accumulated Amortization 38,000 28,000 Net Plant & Equipment 88,000 62,000 TOTALASSETS 150,000 112,500 LIABILITIES and SHAREHOLDERS' EQUITY Current Liabilities Accounts Payable 22,000 10,500 Bank Note 40,000 10,000 Taxes Payable 2,500 Accrued Expenses 4,500 Total Current Liabilities 69,000 27,500 Long Term Debt First Mortgage Bonds 20,000 22,000 Debenture Bonds 2,950 6,750 5,450 4,500 2,000 5,000 Total Liabilities 22,950 28,750 Equity Common Shares Retained Earnings Total Equity 31,500 26,550 31,500 24,750 58,050 56,250 e) Complete common size statements for both the income statement and balance sheets for both years using an excel spreadsheet. (10 marks) Step by Step Solution
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