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Use the following information for Taco Swell, Incorporated, (assume the tax rate is 24 percent): 2020 2021 Sales $13,573 $14,136 Depreciation 1,701 1,776 Cost of
Use the following information for Taco Swell, Incorporated, (assume the tax rate is 24 percent): 2020 2021 Sales $13,573 $14,136 Depreciation 1,701 1,776 Cost of goods sold 4,179 4,747 Other expenses 966 844 Interest 815 946 Cash 6,127 6,586 Accounts receivable 8,080 9,547 Short-term notes payable 1,210 1,187 Long-term debt 20,440 24,736 Net fixed assets 50,976 54,393 Accounts payable 4,448 4,764 Inventory 14,351 15,328 Dividends 1,150 1,658 Prepare a balance sheet for this company for 2020 and 2021. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) TACO SWELL, INCORPORATED Balance Sheet as of December 31 Current assets. Total assets Assets 2020 2021 $ 85,854 Current assets Total assets Assets TACO SWELL, INCORPORATED Balance Sheet as of December 31 2020 2021 $ 85,854 Liabilities & Equity Current liabilities Total liabilities & owners' equity $ 5,951 Prepare an income statement for this company for 2020 and 2021. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Input all answers as positive values.) TACO SWELL, INCORPORATED Income Statement 2020 2021 Sales COGS Other expenses Depreciation EBIT Interest EBT Taxes Net income Dividends Additions to RE
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