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Use the following information for Riverside Market, Inc., (assume the tax rate is 30 percent): 2010 2011 Sales $ 18,073 $ 16,836 Depreciation 1,791 1,866
Use the following information for Riverside Market, Inc., (assume the tax rate is 30 percent): |
2010 | 2011 | ||||||
Sales | $ | 18,073 | $ | 16,836 | |||
Depreciation | 1,791 | 1,866 | |||||
Cost of goods sold | 4,629 | 4,837 | |||||
Other expenses | 1,011 | 889 | |||||
Interest | 860 | 991 | |||||
Cash | 6,262 | 6,856 | |||||
Accounts receivable | 8,170 | 9,817 | |||||
Short-term notes payable | 1,300 | 1,277 | |||||
Long-term debt | 20,710 | 24,961 | |||||
Net fixed assets | 51,174 | 54,663 | |||||
Accounts payable | 4,592 | 5,034 | |||||
Inventory | 14,504 | 15,418 | |||||
Dividends | 1,600 | 1,748 | |||||
2) Prepare an income statement for this company for 2010 and 2011. |
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