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Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent): 2014 2015 Sales $ 9,735 $ 10,309 Depreciation 1,315 1,316 Cost

Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent):

2014

2015

Sales

$

9,735

$

10,309

Depreciation

1,315

1,316

Cost of goods sold

2,886

3,250

Other expenses

829

724

Interest

715

793

Cash

4,299

5,393

Accounts receivable

5,629

6,317

Short-term notes payable

984

936

Long-term debt

15,450

17,950

Net fixed assets

36,355

37,557

Accounts payable

4,696

4,375

Inventory

9,860

10,128

Dividends

1,146

1,241


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)Additions to REInterestSalesEBITDividends

$

$

(Click to select)Additions to REDividendsInterestCost of goods soldEBIT

(Click to select)InterestDividendsAdditions to REOther expensesEBIT

(Click to select)Additions to REDepreciationInterestEBITDividends





(Click to select)Additions to RECost of goods soldOther expensesSalesEBIT

$

$

(Click to select)SalesOther expensesAdditions to RECost of goods soldInterest





(Click to select)Cost of goods soldEBTOther expensesSalesInterest

$

$

(Click to select)TaxesCost of goods soldAdditions to RESalesOther expenses





(Click to select)Net incomeNet loss

$

$









(Click to select)InterestSalesDividendsDepreciationTaxes

$

$

(Click to select)DepreciationInterestTaxesAdditions to RESales


The way it looks to me is as follows:

Sales

Cost of Goods Sold

Other expenses

Depreciation

EBIT

Interest

EBT

Taxes

Net Income

Dividends

Additions to RE

I am not a 100% sure. Also, it shows some answers should be rounded off two decimal places.

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