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show work step please. thanks 16 pts Question 26 Use the following information for Huskers Inc to answer the questions below Balance Sheet and Income
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16 pts Question 26 Use the following information for Huskers Inc to answer the questions below Balance Sheet and Income Statement Data for Huskers, Inc. 2019 2020 2020 -680 101 Balance Sheet Asut cash and marketable securities Accounts recevablo Merchandise Inventory Gross fixed assets less accumulated depreciation Net Ixed assets Total Assets 30 102 6S 120 40 80 277 215 104 149 57 92 412 Incomitement Net Sales Cost of Goods Sold Gross Margin Selling Expenses General and Admin Expenses Dopreciation Operating Profit Interest income Interest Expense 50 26 31 6 -18 110 Labilities and Net Worth Current maturales of long-term debt Accounts payable Long-term debt Total abilities 90 47 43 180 72 134 316 Profit belore taxes Income Taxes Net Profit 60 Common Stock Retained earings Total net worth Total liabilities and equity 37 97 277 60 41 101 417 Net Worth reconciliation: Beginning net worth + Net profit Dividends paid (cash) Ending net worth 97 14 - 10 101 Note: Inventory was $45 million in 2011 Note. Inventory wos $45 million in 2011 Increase in a liability or equity - source of funds Decrease in a liability or equity - use of funds Increase in an asset = use of funds Decrease in an asset - source of funds a. (12 points) Using the information provided above, create a Cash Income Statement, b. (4 points) Discuss the results of the Cash Income Statement. Do you think that a bank should lend money to Huskers, Inc.? Why or why notStep by Step Solution
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