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Use the following information for Taco Swell, Inc., (assume the tax rate is 30 percent): 2014 2015 Sales $ 15,573 $ 15,336 Depreciation 1,741 1,816
Use the following information for Taco Swell, Inc., (assume the tax rate is 30 percent): |
2014 | 2015 | |||||
Sales | $ | 15,573 | $ | 15,336 | ||
Depreciation | 1,741 | 1,816 | ||||
Cost of goods sold | 4,379 | 4,787 | ||||
Other expenses | 986 | 864 | ||||
Interest | 835 | 966 | ||||
Cash | 6,187 | 6,706 | ||||
Accounts receivable | 8,120 | 9,667 | ||||
Short-term notes payable | 1,250 | 1,227 | ||||
Long-term debt | 20,560 | 24,836 | ||||
Net fixed assets | 51,064 | 54,513 | ||||
Accounts payable | 4,512 | 4,884 | ||||
Inventory | 14,419 | 15,368 | ||||
Dividends | 1,350 | 1,698 | ||||
Prepare a balance sheet of this company for 2014 and 2015. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.) |
TACO SWELL, INC. Balance Sheet as of Dec. 31 | |||
2014 | 2015 | ||
Assets | |||
(Click to select)Notes payableInventoryAccounts receivableCashAccounts payable | $ | $ | |
(Click to select)Long-term debtAccounts receivableAccounts payableOwners' equityNotes payable | |||
(Click to select)Notes receivableAccounts receivableInventoryNet fixed assetsAccounts payable | |||
Current assets | $ | $ | |
(Click to select)Accounts receivableNotes receivableLong-term debtNet fixed assetsAccounts payable | |||
Total assets | $ | $ | |
Liabilities | |||
(Click to select)Net fixed aseetsAccounts payableCost of goods soldLong-term debtAccounts receivable | $ | $ | |
(Click to select)Accounts receivableNotes payableAccounts payableNotes receivableCash | |||
Current liabilities | $ | $ | |
(Click to select)Long-term debtOwners' equityAccounts receivableCost of goods soldCash | |||
(Click to select)Accounts receivableCost of goods soldNotes receivableOwners' equityCash | |||
Total liabilities & owners' equity | $ | $ | |
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. Input all amounts as positive values.) |
TACO SWELL, INC. Income Statement | |||
2014 | 2015 | ||
Sales | $ | $ | |
COGS | |||
Other expenses | |||
Depreciation | |||
EBIT | $ | $ | |
Interest | |||
EBT | $ | $ | |
Taxes (30%) | |||
Net income | $ | $ | |
Dividends | $ | $ | |
Additions to RE | |||
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