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Use the following information for Ingersoll, Inc., (assume the tax rate is 30 percent): 2013 2014 Sales $ 12,073 $ 13,236 Depreciation 1,671 1,746 Cost
Use the following information for Ingersoll, Inc., (assume the tax rate is 30 percent): |
2013 | 2014 | |||||
Sales | $ | 12,073 | $ | 13,236 | ||
Depreciation | 1,671 | 1,746 | ||||
Cost of goods sold | 4,029 | 4,717 | ||||
Other expenses | 951 | 829 | ||||
Interest | 800 | 931 | ||||
Cash | 6,082 | 6,496 | ||||
Accounts receivable | 8,050 | 9,457 | ||||
Long-term debt | 20,350 | 24,661 | ||||
Net fixed assets | 50,910 | 54,303 | ||||
Accounts payable | 5,580 | 5,831 | ||||
Inventory | 14,300 | 15,298 | ||||
Dividends | 1,000 | 1,628 | ||||
Prepare a balance sheet for this company for 2013 and 2014. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.) |
INGERSOLL, INC. Balance Sheet as of Dec. 31 | |||||
2013 | 2014 | ||||
Assets | |||||
(Click to select) Notes payable Cash Inventory Accounts receivable Accounts payable | $ | $ | |||
(Click to select) Accounts payable Notes payable Accounts receivable Long-term debt Owners' equity | |||||
(Click to select) Inventory Net fixed assets Accounts receivable Accounts payable Notes receivable | |||||
Current assets | $ | $ | |||
(Click to select) Long-term debt Accounts payable Notes receivable Net fixed assets Accounts receivable | |||||
Total assets | $ | $ | |||
Liabilities | |||||
(Click to select) Accounts receivable Net fixed assets Long-term debt Accounts payable Cost of goods sold | $ | $ | |||
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| ||||
Current liabilities | |||||
(Click to select) Owners' equity Cost of goods sold Long-term debt Cash Accounts receivable | |||||
(Click to select) Cost of goods sold Cash Accounts receivable Owners' equity Notes receivable | |||||
Total liabilities & owners' equity | $ | $ | |||
Prepare an income statement for this company for 2013 and 2014. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) |
INGERSOLL, INC. Income Statement | |||
2013 | 2014 | ||
Sales | $ | $ | |
COGS | |||
Other expenses | |||
Depreciation | |||
EBIT | $ | $ | |
Interest | |||
EBT | |||
Taxes (30%) | |||
Net income | |||
Dividends | $ | $ | |
Additions to RE | |||
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