Sales (All Credit) $ 4,000,000 Less: COGS 3,000,000 Gross Profit 1,000,000 Less: Operating Expenses 450,000 Operating Profit (EBIT) 550,000 Less: Interest Expense 50,000 Less: Lease Expenses 100,000 Earnings before Taxes (EBT) 400,000 Less: Taxes 200,000 Earnings After Taxes (EAT) $ 200,000 Gringotts Inc. Income Statement For the year ended Dec. 31, 20xx Assets Cash $ 30,000 Marketable securities 50,000 Accounts receivable 350,000 Inventory 370,000 Total Current Assets 800,000 Net Property, Plant and Equipment 800,000 Total Assets $ 1,600,000 Gringotts Inc. Statement of Financial Position As of Dec. 31, 20xx Gringotts Inc. Statement of Financial Position As of Dec. 31, 20xx Liabilties & Shareholders Equity Accounts payable $ 50,000 Notes payable 250,000 Total current Liabilities 300,000 Long-term Liabilities 300,000 Total Liabilities 600,000 Common Stock 400,000 Retained Earnings 600,000 Total liabilities and shareholders equity $1,600,000

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