Question
Part 1: The balance sheet for Rogers Industries for March 31, 2018, appears below. Information relevant to Rogers Industries' operations for the 2019 fiscal
Part 1: The balance sheet for Rogers Industries for March 31, 2018, appears below. Information relevant to Rogers Industries' operations for the 2019 fiscal year is given following the balance sheet. Using the data presented: a. Prepare in good form an income statement for Rogers Industries for the year ended March 31, 2019. Be sure to show earnings per share (EPS). b. Prepare in good form a balance sheet for Rogers Industries for March 31, 2019. Balance Sheet (5000) Rogers Industries. March 31, 2018 Assets Cash Marketable securities i Accounts receivable Inventories Total current assets Gross fixed assets Less: Accumulated amortization Net fixed assets Total assets $ 40 10 80 100 $ 230 $ 890 240 $650 5880 I Liabilities and shareholder's equity Accounts payable $50 Accruals Line of credit Total current liabilities 80 10 $140 Long-term debt $270 Preferred shares $ 40 Common shares (119,000 320 shares outstanding) Retained earnings 110 Total shareholders' equity $470 Total liabilities and Shareholders' equity $880
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started