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solve it The following statement of financial position and statement of comprehensive income should be used Woodburn, Inc. 2018 Statement of comprehensive income ($ in
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The following statement of financial position and statement of comprehensive income should be used Woodburn, Inc. 2018 Statement of comprehensive income ($ in thousands) INet Sales $6,380 Less: Cost of Goods Sold 4,120 Less: Depreciation 360 Earnings Before Interest and Taxes 1,9001 Less. Interest Paid 45 Taxable Income 1,855 Less: Taxes 6501 Net Income 1.205 Cash Accounts rec Inventory Total Net fixed assets Total assets Statement of financial position Years ended 2017 and 2018 ($ in thousands) 2017 2018 $230 $340 Accounts payable 910 950 Long-term debt to 1.490 1.460 Common stock 2,630 $2,750 Retained earnings 3.190 3.220 $5.820 $5.970 Total liabilities & equity 2017 $850 1,650 2,500 8200 2018 1,020 1,400 2,200 1,350 $5.820 $5.970 How many dollars of sales are being generated by every $1 that Woodburn has in total assets($ in thousands)? (Use 2018 assets) Step by Step Solution
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