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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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