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Use the following information for Taco Swell, Inc., for Problems 21 and 22 (assume the tax rate is 21 percent): 2017 2018 Sales $16,549 $18,498
Use the following information for Taco Swell, Inc., for Problems 21 and 22 (assume the tax rate is 21 percent): 2017 2018 Sales $16,549 $18,498 Depreciation 2,376 2,484 Cost of goods sold 5,690 6,731 Other expenses 1,353 1,178 Interest 1,110 1,325 Cash 8,676 9,247 Accounts receivable 11,488 13,482 Short-term notes payable 1,674 1,641 Long-term debt 29,060 35,229 Net fixed assets 72,770 77,610 Accounts payable 6,269 6,640 Inventory 20,424 21,862 Dividends 1,979 2,314 21. Financial Statements [LO1] Draw up an income statement and balance sheet for this company for 2017 and 2018. 22. Calculating Cash Flow (L04] For 2018, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders
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