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Use the following to answer questions 19-22 BLT Home Builders is in the process of closing its operations. It sold its six-year-old Caterpillar 279C Compact
Use the following to answer questions 19-22 BLT Home Builders is in the process of closing its operations. It sold its six-year-old Caterpillar 279C Compact Track Loader for S40,000. The loader originally cost S83,000 and had an estimated useful life of 9 years and an estimated residual value of $14,000 ABC uses straight-line depreciation for all equipment. 19 Calculate the balance in the accumulated depreciation account at the end of the sixth year 20. S Calculate the book value of the loader at the end of the sixth year 21. S What was the gain or loss on the sale of the loader at the end of the sixth year (if loss, put in front of your answer). 22. Record the sale of the loader at the end of the sixth year. Use the following to answer questions 23-30 XBR Corp., reports total assets of S700,000 at the beginning of the year and $780,000 at the end of the year. They also report the following income statement results: les les returns&allow ain on sale of 23. S 24. S 25. S 26. $ 27 28. Calculate Net sales Calculate Cost of Goods Sold Calculate operating income Calculate Income before Income tax (IBT) %. Calculate the gross profit margin (rounded) %. Calculate the net profit margin (one decimal place
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