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The following information related to TRT Company for the years 2019 and 2020. 1. Income Statement Information: 2019 2020 Net Sales $310,000 $250,000 Cost of
The following information related to TRT Company for the years 2019 and 2020. 1. Income Statement Information: 2019 2020 Net Sales $310,000 $250,000 Cost of Goods Sold 90,000 86,000 Operating Expense 16,000 11,000 Interest Expense 9,000 10,200 Income Tax Expense 10,200 9,600 Net Income 154,000 103,200 2. Other Information: 2019 2020 Total Assets $250,000 $190,000 Construction in Progress 15.000 14,200 Intangible Assets 7,000 7,000 Long-term debts 70,000 70,000 Current liabilities 40,000 50,000 Preferred Stocks, 5% 10,000 10,000 Common Stocks, 210,000 150,000 Dividend for Common Shares 84.000 60,000 Market Price of Common Shares 16 10 3. Common Stock outstanding information: No change in outstanding common shares during 2019. In 2020 the following changes occurred: January 1.2020 (Beginning) 40,000 April 1. 2020 Shares issued 20,000 July 1. 2020 Purchased Treasury shares 6,000 Sept 30. 2020 Shares issued 8,000 November 1.2020 Stock Dividend 10% issued Dec 31, 2020 Shares issued 1.950 instructions For the year 2020, Compute! Operating Assets turnover 156 1.5
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