Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please answer With the information given below, construct Pedro Inc.'s Balance Sheet, Income Statement and Retained Earnings Statement for 2016 (NO PREFERRED STOCK). (In 000's)
please answer
With the information given below, construct Pedro Inc.'s Balance Sheet, Income Statement and Retained Earnings Statement for 2016 (NO PREFERRED STOCK). (In 000's) December 31, 2016 Cash $ ? Notes Payable 500,000 Sales 10,000,000 Accounts Receivable 850,000 Accounts Payable 1,200,000 Long-term Debt 18,000,000 Common Stock (10,000 shares) 10,000 Additional Capital 4,990,000 Retained Earnings (2015) 5,050,000 Gross Fixed Assets 32,350,000 Cost of Goods Sold 4,000,000 Other Operating Expenses 1,450,000 Inventory 1,980,000 Interest Expense 2,500,000 Tax Rate 50% Depreciation Expense 50,000 Accumulated Depreciation 6,050,000 Dividends 5,000 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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