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USE THE FOLLOWING DATA TO ANSWER QUESTIONS 35 40 PLEASE LABEL ANSWERS CLEARLY!!!! THANK YOU Annual Income Statements 2013 2014 Sales 500,000 560,000 COGS ????

USE THE FOLLOWING DATA TO ANSWER QUESTIONS 35 40

image text in transcribedPLEASE LABEL ANSWERS CLEARLY!!!! THANK YOU

Annual Income Statements

2013

2014

Sales

500,000

560,000

COGS

????

149,350

Gross profit

380,000

410,650

Oper. exp

225,000

250,100

Depreciation

15,000

15,000

Operating profit

140,000

145,550

Interest exp.

5,000

5,000

EBT

135,000

140,550

Taxes

50,000

56,000

Net Income

85,000

84,550

Annual Balance Sheets

2013

2014

Cash

450,000

478,500

Accounts rec

275,000

250,000

Inventories

280,000

325,000

Current Assets

1,005,000

1,053,500

Net fixed assets

1,125,000

???

Total Assets

2,130,000

2,293,500

Notes payable

150,000

125,000

Accounts payable

90,000

115,000

Accruals

15,000

25,000

Current Liabilities

255,000

265,000

Long-term debt

1,000,000

1,050,000

Common stock @ ($0.25 par)

25,000

28,500

Additional paid in capital

500,000

570,000

Retained earnings

350,000

380,000

Total Liabilities & Equity

2,130,000

2,293,500

35. Net fixed assets in 2014 were $__________. 36. COGS on the 2013 common-sized income statement was 24%. Therefore, COGS in 2013 was 37. The debt ratio for 2014 was ____%. 38. Cash flow from operations in 2014 was $________. 39. Cash flow from investing in 2014 was $__________. 40. Total dividends paid in 2014 was $_______.

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