Stuck on Income statement Interest Expense and Depreciation Expense

Previous year Balance sheet

Previous year Income Statement

AutoSave Problem1_Student File_F20V2.xlsx - Read-Only - Excel OB 2 Data View Team Review Help Formulas File Home Insert Page Layout - General - 11 - A A 2 Wrap Text Calibri Xcut Copy 3 Format Painter a.A BIU $ - % Merge & Center IM Num! Font Alignment Clipboard D22 1 Sales for 2019 2 Cost of goods sold as percent of sales 3 Selling and administration expenses 4 Depreciation expense as percent of plant & equipment at beginning of the year 5 Interest expense on Notes payable (6 month) - based on December 31, 2018, balances 6 Interest rate on Notes payable (5 year). based on Dec 31, 2017, balances 7 Interest rate on Bonds payable-based on December 31, 2017, balances 8 Tax rate 9 Preferred dividends paid 10 Common stock dividends paid 11 Prepaid expenses balance increased by 12 Accounts receivable decreased in 2019 by 13 Inventory increased in 2019 by 14 New machine was purchased on December 31, 2019, at a cost of 15 Accounts payable increased in 2019 by 16 Notes payable (6 month) decreased at end of the year by 17 Notes payable (5 year) increased at end of the year by 18 Bonds payable decreased at end of the year by 19 Preferred stock 20 Common stock increased by 21 Paid in capital in excess of par increased by 22 Number of shares outstanding 23 During 2019, cash balance decreased by 24 Market price per share of common as of December 31, 2018 was 25 Market price per share of common as of December 31, 2019 was 26 27 28 29 30 31 32 33 34 B $ 241,500 56% S 25,235 10% 4% 796 8.5% 215 $ 2,500 $ 9,952.77 1.50% 3% 12% $ 65,000 17% $ 2,000 $ 12,000 $ 15,000 No change $ 15,000 12% 25000 $ 2,676 $ 77.42 $ 61.74 35 36 37 38 Balance Sheet 2013 Income Statement 2018 Data Sheet Income Statement 2019 Stunt of Reta BS B C D 241,500 136,146 105,354 25, 235 80,119 7 80,119 16,825 63,294 2,500 60,794 HW Enterprises 2 Income Statement 3 for year ended December 31, 2019 4 Sales $ 5 Cost of goods sold 6 Gross profit 7 Selling and administrative expense 8 Depreciation expense 9 Operating profit 10. Interest expense 11 Earnings before taxes 12 Taxes 13 Earnings after taxes 14 Preferred stock dividends 15 Earnings available to common stockholders 16 17 Shares outstanding 18 Earnings per share 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 Calibri X Cut In Copy Format Painter Clipboard 11 AA === 2 Wrap Text OAB Merge & Center BIU Font Alignment C38 fx E A B D 1 HW Enterprises 2 Balance Sheet 3 for Year Ended Decemver 31, 2018 4 Assets Liabilities 5 Current Assets: Current Liabilities: 6 Cash $60,000 Accounts payable $ 18,000 7 Accounts receivable 21,000 Notes payable 26,000 8 Inventory 31,000 Total current liabilities 44,000 9 Prepaid expenses 12,600 Notes payable 12,000 10 Total current assets 124,600 Bonds payable $ 88,000 11 Fixed Assets: Total liabilites 144,000 12 Plant & equipment $ 256,000 Stockholder's Equity 13 Less: Accum. depreciation 51.200 Preferred stock $ 26,000 14 Net plant & equipment 204,800 Common stock 61,000 15 Total Assets $329,400 Paid in capital in excess of pa 31,000 16 Retained earnings 67,400 17 Total Equity $185,400 18 Total Lab. & Equity $329,400 19 20 21 22 23 24 25 26 27 28 29 30 31 52 34 35 36 37 POSE 3 Format Painter CA. EEE E Clipboard Font IS Alie 010 f f D B 11 HW Enterprises 12 Income Statement 3 for year ended December 31, 2018 4 Sales $ 230,000 5 Cost of goods sold 126,500 6 Gross profit 103,500 7 Selling and administrative expense 24,500 8 Depreciation expense 26,000 9 Operating profit 53,000 10 Interest expense 20,580 11 Earnings before taxes 32,420 12 Taxes 6,808 13 Earnings after taxes 25,612 14 Preferred stock dividends 2,500 15 Earnings available to common stockhold: $ 23,112 16 17 Shares outstanding 10,000 18 Earnings per share $ 2.31 19 20 21 22 23 24 25 26 27 28 29 30 31 32