Question
Use the following information for Taco Swell, Incorporated, (assume the tax rate is 24 percent): 2020 2021 Sales $19,573 $17,736 Depreciation 1,821 1,896 Cost
Use the following information for Taco Swell, Incorporated, (assume the tax rate is 24 percent): 2020 2021 Sales $19,573 $17,736 Depreciation 1,821 1,896 Cost of goods sold 4,779 4,867 Other expenses 1,026 904 Interest 875 1,006 Cash 6,307 6,946 Accounts receivable 8,200 9,907 Short-term notes payable 1,330 1,307 Long-term debt 20,800 25,036 Net fixed assets 51,240 54,753 Accounts payable 4,640 5,124 Inventory 14,555 15,448 Dividends 1,750 1,778 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.) 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 $ 82954 Liabilities & Equity Current liabilities Total liabilities & owners' equity $ 6,431 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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