Question
Use the following information for Ingersoll, Inc., (assume the tax rate is 35 percent): 2014 2015 Sales $ 8,535 $ 9,109 Depreciation 1,195 1,196 Cost
Use the following information for Ingersoll, Inc., (assume the tax rate is 35 percent): 2014 2015 Sales $ 8,535 $ 9,109 Depreciation 1,195 1,196 Cost of goods sold 2,766 3,130 Other expenses 709 604 Interest 595 673 Cash 4,179 5,273 Accounts receivable 5,509 6,197 Short-term notes payable 864 816 Long-term debt 14,230 16,750 Net fixed assets 35,155 36,117 Accounts payable 4,456 4,255 Inventory 9,740 10,008 Dividends 1,026 1,121 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 $ $ $ $ $ $ $ $ $ $ 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 $ $ Current assets $ $ Total assets $ $ Liabilities $ $ Current liabilities $ $ Total liabilities & owners' equity $ $
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