Question
order. Using the amounts below, redo the income statement and balance sheet. Use Excel, and for the calculated terms (not given) use math in Excel.
order. Using the amounts below, redo the income statement and balance sheet. Use Excel, and for the calculated terms (not given) use math in Excel.
Show the math calculations in another sheet. Copy sheet 1 to sheet 2, and then show the formulas by using Ctrl ~. Put in the proper headers, etc. as explained in the syllabus.
Bring your 2 pages of print out to class for grading.
Accounts payable | $31,000 |
Accounts Receivable | $36,000 |
Accumulated Depreciation | $45,000 |
After Tax Income |
|
Cash | $24,000 |
Common Stock | $36,000 |
Cost of Goods Sold | $62,000 |
Current Assets |
|
Current Liabilities |
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Depreciation | $6,000 |
EBIT |
|
Gross Fixed Assets | $112,000 |
Gross Profit |
|
Interest | $4,500 |
Inventory | $42,000 |
Labor Expense | $12,000 |
Long Term Debt | $50,000 |
Net Fixed Assets |
|
Overhead | $8,000 |
Retained Earnings | $27,000 |
Sales | $100,000 |
Short Term Debt | $25,000 |
Taxable Income |
|
Taxes | 35% |
Total Assets |
|
Total Liabilities and Net Worth |
|
Income Statement Balance Sheet
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