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Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent): 2014 2015 Sales $ 9,435 $ 10,009 Depreciation 1,285 1,286 Cost
Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent): |
2014 | 2015 | |||
Sales | $ | 9,435 | $ | 10,009 |
Depreciation | 1,285 | 1,286 | ||
Cost of goods sold | 2,856 | 3,220 | ||
Other expenses | 799 | 694 | ||
Interest | 685 | 763 | ||
Cash | 4,269 | 5,363 | ||
Accounts receivable | 5,599 | 6,287 | ||
Short-term notes payable | 954 | 906 | ||
Long-term debt | 15,220 | 17,650 | ||
Net fixed assets | 36,055 | 37,197 | ||
Accounts payable | 4,636 | 4,345 | ||
Inventory | 9,830 | 10,098 | ||
Dividends | 1,116 | 1,211 | ||
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.) |
Ingersoll, Inc., Income Statement | ||||||
2014 | 2015 | |||||
(Click to select)EBIT, Additions to RE, Dividends, Interest, Sales | $ | $ | ||||
(Click to select)Interest, Cost of goods sold, Additions to RE, EBIT, Dividends | ||||||
(Click to select)Additions to RE, EBIT, Interest, Dividends, Other expenses | ||||||
(Click to select)Additions to RE, Dividends, EBIT, Interest, Depreciation | ||||||
(Click to select)Cost of goods sold, Sales, Other expenses, EBIT, Additions to RE | $ | $ | ||||
(Click to select)Cost of goods sold, Additions to RE, Sales, Other expenses, Interest | ||||||
(Click to select)Cost of goods sold, Interest, EBT, Sales, Other expenses | $ | $ | ||||
(Click to select)Cost of goods sold, Sales, Additions to RE, Taxes, Other expenses | ||||||
(Click to select)Net income, Net loss | $ | $ | ||||
(Click to select)Depreciation, SalesInterest, Dividends, Taxes | $ | $ | ||||
(Click to select)Sales, Additions to RE, Interest, Depreciation, Taxes | ||||||
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.) |
Ingersoll, Inc. Balance Sheet as of Dec. 31 | ||||||
2014 | 2015 | |||||
Assets | ||||||
(Click to select)Notes payable, CashAccounts payable, Notes receivable, Long-term debt, Owners' equity, Net fixed assets | $ | $ | ||||
(Click to select)Notes receivable, Net fixed assets, Notes payable, Long-term debt, Accounts payable, Owners' equity, Accounts receivable | ||||||
(Click to select)Owners' equity, Long-term debt, Net fixed assets, Accounts payable, Notes payable, Inventory, Notes receivable | ||||||
Current assets | $ | $ | ||||
(Click to select)Notes payable, Net fixed assets, Accounts receivable, Inventory, Long-term debt, Cash Accounts payable | ||||||
Total assets | $ | $ | ||||
Liabilities | ||||||
(Click to select)Cash, Accounts payable, Accounts receivable, Owners' equity, Notes receivable, Net fixed assets, Long-term debt | $ | $ | ||||
(Click to select)Cash, Notes payable, Owners' equity, Notes receivable, Net fixed assets, Long-term debt, Accounts receivable | ||||||
Current liabilities | $ | $ | ||||
(Click to select)Notes payable, Long-term debt, Cash, Accounts payable, Notes receivable, Accounts receivable, Net fixed assets | ||||||
(Click to select)Notes payable, Notes receivable, Cash, Net fixed assets, Accounts payable, Accounts receivable, Owners' equity | ||||||
Total liabilities & owners' equity | $ | $ | ||||
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