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this is all one question eBook The following financial data were adapted from a recent annual report of Traymate Corporation for the year ending January
this is all one question
eBook The following financial data were adapted from a recent annual report of Traymate Corporation for the year ending January 31. In millions Accounts payable $17,143 Cash 1,985 Common stock 7,155 Cost of sales 119,650 Debt and other borrowings 43,708 Income tax expense 3,818 Interest expense 2,165 Inventories 19,795 Other assets 7,105 Other expenses 6,443 Other liabilities 16,173 Property and equipment, net 72,873 Sales 171,165 Selling, general, and administrative expenses 35,265 Instructions: Instructions: 1. Prepare Traymate's income statement for the year ending January 31. Traymate Corporation Income Statement For the Year Ended January 31 (in millions) Sales 171,165 Expenses: Cost of sales 119,650 Selling, general, and administrative expenses 35,265 Income tax expense 3,818 Interest expense 2,165 Other expenses 6,443 Total expenses Net income 2. Prepare Traymate's statement of stockholders' equity for the year ending January 31. If an amount box is zero, leave it blank. 2. Prepare Traymate's statement of stockholders' equity for the year ending January 31. If an amount box is zero, leave it blank. Common stock, Feb. 1 of prior year $45 Retained earnings, Feb. 1 of prior year 6,495 Other stockholder equity items on Feb. 1 of prior year 10,758 Dividends 3,498 Other items affecting retained earnings (2,068) Other items affecting common stock (2) Other items affecting stockholders' equity 126 Traymate Corporation Statement of Stockholders' Equity For the Year Ended January 31 (in millions) Common Stock Retained Earnings Other Items Total Balances, Feb. 1 of prior year $ Balances, January 31 $ 3. Prepare Traymate's balance sheet as of January 31. Traymate Corporation Balance Sheet January 31 (in millions) Assets $ Total assets Liabilities Total liabilities Total assets Liabilities Total liabilities O 100 100 Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equityStep by Step Solution
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