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Please Help to Answer the questions. The incorrect parts are labeled with a red X. Use the following information for Taco Swell, Inc., (assume the
Please Help to Answer the questions. The incorrect parts are labeled with a red X.
Use the following information for Taco Swell, Inc., (assume the tax rate is 23 percent) 2017 2018 15,073 $15,036 1,731 4,329 Sales Depreciation Cost of goods sold Other expenses 1,806 4,777 981 859 830 Interest 961 6,676 9,637 Cash 6,172 8,110 Accounts receivable Short-term notes 1,240 1,217 payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 20,530 24,811 51,042 54,483 4,496 4,854 14,402 15,358 1,300 1,688 Prepare a balance sheet for this company for 2017 and 2018. (Do not round Intermediate calculations.) Answer is omplete but not entirely correct. TACO SWELL, INC. Balance Sheet as of Dec. 31 2017 2018 Assets 6,172 Cash 6,676 Accounts receivable 8,110 9,637 Inventory 14,402 15,358 Current assets 28,684 31,671 Net fixed assets 51,042 54,483 79,726 86,154 Total assets Liabilities & Equity Accounts payable 4,496 4,854 Notes payable 1,240 1,217 Current liabilities 5,736 6,071 Long-term debt 20,530 24,811 Owners' equity 73,990 80,083 S Total liabilities & owners' equity 100,256 110,965 e Prepare an Income statement for this company for 2017 and 2018. (Do not round Intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16. Input all answers as positive values.) Answer is complete but not entirely correct. TACO SWELL, INC. Income Statement 2017 2018 15,073.00 15,036.00 Sales 4,329.00 COGS 4,777.00 Other expenses 981.00 859.00 Depreciation 1,731.00 1,806.00 EBIT 8,032.00 7,594.00 Interest 830.00 961.00 EBT 7,202.00 6,633.00 1,656.46 Taxes 1,525.59 S 5,545.54 5,107.41 Net income Dividends 1,300.00 1,688.00 Additions to RE 0.00 0.00Step by Step Solution
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