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Use the following information for question 1. At the end of 2017, the Baller Company has $40,000 in accumulated depreciation and $100,000 in retained earnings.
Use the following information for question 1. At the end of 2017, the Baller Company has $40,000 in accumulated depreciation and $100,000 in retained earnings. Sales Notes Payable Tax Rate Gross Fixed Assets Total Current Liabilities Interest Expense Cash Accounts Payable COGS Total Current Assets Total Debt Net Income Accounts Receivable Addition to Retained Earnings 2018 $250,000 20,000 40% $500,000 100,000 30,000 20,000 30,000 30% of Sales 100,000 200,000 42,000 30,000 20,000 2019 $300,000 50,000 40% $590,000 110,000 35,000 30,000 20,000 30% of Sales 150,000 240,000 48,000 20,000 26,000 1. Complete the Balance Sheet and Income Statement for 2018 and 2019
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