SHOW ALL WORK!

Make any assumptions necessary for you to complete each problem; however, you need to document 1) what your assumption and 2) why you feel compelled to make the assumption.

1. FINANCIAL STATEMENTS. Complete the Income Statements and Balance Sheets. At the end of 2016, the Zedo Company has $200,000 in accumulated depreciation and $150,000 in retained earnings. Sales Notes Payable Tax Rate Gross Fixed Assets Total Current Liabilities Interest Expense Cash Accounts Payable Current Ratio Total Liabilities Net Income Accounts Receivable Dividends Cost of Sales 2017 $1,600,000 50,000 40% $3,000,000 400,000 140,000 80,000 160,000 1.2 times 700,000 42,000 140,000 20,000 75% of sales 2018 $2,000,000 30,000 40% $3,250,000 500,000 180,000 120,000 140,000 1.6 times 900,000 60,000 160,000 20,000 75% of sales Prepare a Statement of Cash Flow for the Zedo Company. What do you see as the strengths and weaknesses of the Zedo Company