Question
QUESTION 11 Lindas Lights balance sheet info for the beginning of 2020: Owners Equity 27 million Bank Loan 10 million, 4.5% interest rate Fixed Assets
QUESTION 11 Lindas Lights balance sheet info for the beginning of 2020: Owners Equity 27 million Bank Loan 10 million, 4.5% interest rate Fixed Assets 10 million Inventory 23 million Cash 4 million Here are info for 2020: Purchased 220 thousand lamps for $100 each, sold them for $125 each Incurred additional operating costs of $2 million Purchased 5 trucks for $100,000 each Profits tax 15% Dividend payout ratio 30% Q: What is the balance sheet for the end of the year (start of next year)? Please show your calculation process to get partial credits.
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