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Use the following information for Taco Swell, Inc., (assume the tax rate is 21 percent): 2017 2018 Sales $ 18,073 $ 16,836 Depreciation 1,791 1,866

Use the following information for Taco Swell, Inc., (assume the tax rate is 21 percent):

2017 2018
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

Prepare a balance sheet for this company for 2017 and 2018. (Do not round intermediate calculations.)

Prepare a balance sheet for this company for 2017 and 2018. (Do not round intermediate calculations.image text in transcribed

TACO SWELL, INC. Balance Sheet as of Dec. 31 2017 2018 Assets Cash Accounts receivable 6,262 8,170 14,504 Inventory Current assets $ 28,936 Total assets $ 86,754 Liabilities & Equity Current liabilities $ 6,311 Total liabilities & owners' equity

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