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The following information has been collected for Busy Beak, Inc., a new bird seed manufacturing company for the year 2021. And for the year 2020
The following information has been collected for Busy Beak, Inc., a new bird seed manufacturing company for the year 2021. And for the year 2020 Calculate the income statement for both years. Include sub-totals for EBIT and EBT. Included dividends paid and addition to Retained Earnings. The following information has been collected for Rope and Tow, a roadside assistance company for the year endina Dec 31.2021. Calculate the balance sheet for 2021. Include sub-totals for current assets, fixed assets, and current liabilities. Include and solve for the Retained Earnings account. ditional Balance Sheet Questions: 1. The values for fixed assets on the balance sheet are listed at NET BOOK VALUE. a. True b. False 2. NET BOOK VALUE = ORIGINAL COST + ACCUMULATED DEPRECIATION a. True b. False 3. Is the MARKET VALUE of a company generally higher or lower than the NET BOOK VALUE? a. Higher b. Lower 4. Who determines the MARKET VALUE of company? a. auditors b. SEC c. investors - by setting the stock price by what they are willing to pay
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