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Use the following information for Taco Swell, Inc., (assume the tax rate is 21 percent): 2017 2018 Sales $ 20,073 $ 18,036 Depreciation 1,831 1,906
Use the following information for Taco Swell, Inc., (assume the tax rate is 21 percent): |
2017 | 2018 | |||||
Sales | $ | 20,073 | $ | 18,036 | ||
Depreciation | 1,831 | 1,906 | ||||
Cost of goods sold | 4,829 | 4,877 | ||||
Other expenses | 1,031 | 909 | ||||
Interest | 880 | 1,011 | ||||
Cash | 6,322 | 6,976 | ||||
Accounts receivable | 8,210 | 9,937 | ||||
Short-term notes payable | 1,340 | 1,317 | ||||
Long-term debt | 20,830 | 25,061 | ||||
Net fixed assets | 51,262 | 54,783 | ||||
Accounts payable | 4,656 | 5,154 | ||||
Inventory | 14,572 | 15,458 | ||||
Dividends | 1,800 | 1,788 | ||||
1) Prepare a balance sheet for this company for 2017 and 2018. (Do not round intermediate calculations.) 2) Prepare an income statement for this company for 2017 and 2018. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16. Input all answers as positive values.) |
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