Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

part 1 part 2 2 Use the following information for Ingersoll, Inc. Assume the tax rate is 22 percent. eBook Print References 2018 2019 Sales

part 1 image text in transcribed
image text in transcribed
part 2
image text in transcribed
2 Use the following information for Ingersoll, Inc. Assume the tax rate is 22 percent. eBook Print References 2018 2019 Sales $20,573 $ 18,336 Depreciation 1,841 1,916 Cost of goods sold 4,879 4,887 Other expenses 1,036 914 Interest 885 1,016 Cash 6,337 7,006 Accounts receivable 8,220 9,967 Short-term notes 1,350 1,327 payable Long-term debt 20,860 25,086 Net fixed assets 51,284 54,813 Accounts payable 4,672 5,184 Inventory 14,589 15,468 Dividends 1,850 1,798 2 Prepare a balance sheet for this company for 2018 and 2019. (Do not round intermediate calculations.) eBook INGERSOLL, INC. Balance Sheet as of Dec. 31 2018 Print 2019 References Assets Cash Accounts receivable Inventory Current assets Net fixed assets 87,254 Total assets Liabilities & Equity Current liabilities $ 6,511 Total liabilities & owners' equity Prepare an income statement for this company for 2018 and 2019. (Enter all answers as positive values. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) eBook Print eferences TACO SWELL, INC. Income Statement 2018 2019 Sales COGS Other expenses Depreciation EBIT Interest EBT Taxes Net income Dividends Additions to RE

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial accounting

Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin

1st edition

471467855, 978-0471467854

More Books

Students also viewed these Accounting questions