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Retained earnings and the profit for the financial year Cash and equivalents The balance sheet of a company on the 1st of January is given
Retained earnings and the profit for the financial year
Cash and equivalents
The balance sheet of a company on the 1st of January is given below ASSETS (1.1.) euroa EQUITY (1.1.) euroa Fixed assets 2800000 Shareholder's capital 2146200 Inventory 1120000 Retained earnings 0 Accounts receivable 0 Profit for the financial year 0 Cash and equivalents 1117200 DEBT (1.1) Loans 2555000 Accounts payable 336000 The operating income of the financial period (1.1.-31.12.) is 2520000 . In addition, the following is given on the events in the company during the financial period: The company has delivered products to the customers for a worth of 14000000 according to the billing information. 13020000 of this has been received from the customers. According to the bills, the company has received 6272000 worth of materials of which 5832960 has been paid. Naturally, the company has paid the bills of previous periods. According to the inventory taken, the value of inventory at the end of the financial year is 1792000 . The company has also invested in its means of production (machines) with 504000 . The total depreciation of the financial year is 560000 . 511000 of the loans has been amortized and 127750 has been paid in interests. The income tax percentage is 20 %. Give the following information for the balance sheet at the end of the year (31.12.) to the nearest euroStep by Step Solution
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