Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help Using the table below create SinCo's Income Statement and Balance Sheet for the Prior Year and Current Year, and then answer the questions

Please help
image text in transcribed
image text in transcribed
Using the table below create SinCo's Income Statement and Balance Sheet for the Prior Year and Current Year, and then answer the questions that are below. (Do not round intermediate calculations. Round your answer to 2 decimal places.) \begin{tabular}{|l|l|l|} \hline Depreciation & 500 & 535 \\ \hline Inventory & 300 & 324 \\ \hline SG\&A & 500 & 577 \\ \hline interest Expenses & 150 & 172 \\ \hline Common Stock and Paid-in Capital & 2,200 & 2,200 \\ \hline Federal and State Taxes (35\% of EBT) & 400 & \\ \hline Accounts Payable & 300 & 303 \\ \hline Accounts Receivable & 400 & 401 \\ \hline Net Fixed Assets & 5,000 & 5411 \\ \hline Retained Earnings (Balance Sheet) & 1,000 & \\ \hline Long-Term Debt & 2,000 & 2452 \\ \hline Notes Payable & 1,000 & 990 \\ \hline Dividends Paid & 410 & 410 \\ \hline Cash & 800 & \\ \hline \end{tabular} Income Statement Questions: \begin{tabular}{|l|c|} \hline What is SinCo's EBITDA for the current & 1736 \\ \hline year? & \\ \hline What is SinCo's EBIT for the current & 1201 \\ \hline year? & \\ \hline What is SinCo's Net Income for the & 653.1 \\ \hline current year? & \\ \hline \end{tabular} Balance Sheet Questions: \begin{tabular}{|l|r|} \hline What is SinCo's current year's Retained Earnings & 1243.1 \\ \hline What is the current year's Total Liabilities and & 7188.1 \\ \hline Shareholders Equity & 7188.1 \\ \hline What is SinCo's current year's Total Assets & \\ \hline What is SinCo's current year's Cash Balance & \\ \hline What is SinCo's current year's Total Current Assets & \\ \hline \end{tabular}

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

Step: 3

blur-text-image

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

Financial Analysis And Modeling Using Excel And VBA

Authors: Chandan Sengupta

2nd Edition

047027560X, 978-0470275603

More Books

Students also viewed these Finance questions