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The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the Income statement
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the Income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. Revenue 2028 $4,000 2019 $4,100 Cost of goods sold 1,600 1,700 Depreciation 500 520 Inventorien 300 350 Administrative expenses 500 550 Interest expense. 150 150 Federal and state taxes 400 420 Accounts payable 300 350 Accounts receivable 400 450 Net fixed assets 5,000 5,800 Long-term debt 2,000 2,400 Notes payable 1,000 1600 Dividends paid 410 410 Cash and marketable securities 800 300 Taxes are paid in their entirety in the year that the tax obligation is incurred. Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct an income statement for Fincorp for 2018 and 2019. (Enter your answers in thousands of dollars.) Fincorp Inc. Income Statement 2018 2019 < Prev 5 of 13 Next >
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