Question
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): |
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| 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 | ||||||
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| 2014 |
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| 2015 | |
(Click to select)Additions to REInterestSalesEBITDividends | $ |
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| $ |
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(Click to select)Additions to REDividendsInterestCost of goods soldEBIT |
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(Click to select)InterestDividendsAdditions to REOther expensesEBIT |
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(Click to select)Additions to REDepreciationInterestEBITDividends |
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(Click to select)Additions to RECost of goods soldOther expensesSalesEBIT | $ |
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| $ |
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(Click to select)SalesOther expensesAdditions to RECost of goods soldInterest |
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(Click to select)Cost of goods soldEBTOther expensesSalesInterest | $ |
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| $ |
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(Click to select)TaxesCost of goods soldAdditions to RESalesOther expenses |
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(Click to select)Net incomeNet loss | $ |
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| $ |
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(Click to select)InterestSalesDividendsDepreciationTaxes | $ |
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| $ |
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(Click to select)DepreciationInterestTaxesAdditions to RESales |
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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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