Question
Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent): 2014 2015 Sales $ 8,935 $ 9,509 Depreciation 1,235 1,236 Cost
Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent): 2014 2015 Sales $ 8,935 $ 9,509 Depreciation 1,235 1,236 Cost of goods sold 2,806 3,170 Other expenses 749 644 Interest 635 713 Cash 4,219 5,313 Accounts receivable 5,549 6,237 Short-term notes payable 904 856 Long-term debt 14,670 17,150 Net fixed assets 35,555 36,597 Accounts payable 4,536 4,295 Inventory 9,780 10,048 Dividends 1,066 1,161 Prepare an income statement for this company for 2014 and 2015. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.) Prepare the balance sheet for this company for 2014 and 2015. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.)
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