Question
Using the data presented below: Square Corp. Income Statement For the Year Ended Dec. 31, 2017 ($ in 000's) 2017 2016 Sales 7,250,000 6,750,000 Cost
Using the data presented below:
Square Corp. |
| ||||
Income Statement |
| ||||
For the Year Ended Dec. 31, 2017 ($ in 000's) |
| ||||
| 2017 | 2016 |
| ||
Sales | 7,250,000 | 6,750,000 |
| ||
Cost of Goods Sold | 5,400,000 | 5,330,000 |
| ||
Gross Profit | ? | ? |
| ||
Selling and G&A Expenses | 965,000 | 632,000 |
| ||
Depreciation | 550,000 | 550,000 |
| ||
EBIT | ? | ? |
| ||
Interest Expense | 130,000 | 110,000 |
| ||
Earnings Before Taxes | ? | ? |
| ||
Taxes | ? | ? |
| ||
Net Income | ? | ? |
| ||
| |||||
Notes: |
| ||||
Tax Rate | 35.00% | 38.20% |
| ||
Shares Outstanding | 75,000 | 65,000 |
| ||
|
|
|
| ||
Square Corp. |
|
| |||
Balance Sheet |
|
| |||
As of Dec. 31, 2017 ($ in000's) |
|
| |||
Assets | 2017 | 2016 | |||
Cash | 149,970 | 100,000 | |||
Accounts Receivable | 370,000 | 347,000 | |||
Inventory | 870,000 | 515,000 | |||
Total Current Assets | ? | ? | |||
Plant & Equipment | 6,570,000 | 5,010,000 | |||
Accumulated Depreciation | ? | 1,380,000 | |||
Net Fixed Assets | ? | ? | |||
Total Assets | ? | ? | |||
Liabilities and Owners' Equity |
|
| |||
Accounts Payable | 420,000 | 321,440 | |||
Notes Payable | 166,625 | 22,960 | |||
Total Current Liabilities | ? | ? | |||
Long-term Debt | 1,350,000 | 918,400 | |||
Total Liabilities | ? | ? | |||
Common Stock | 2,520,000 | 2,043,440 | |||
Additional Paid-in-Capital | 772,000 | 551,040 |
| ||
Retained Earnings | 734,720 | 734,720 |
| ||
Total Shareholder's Equity | ? | ? |
| ||
Total Liab. and Owners' Equity | ? | ? |
| ||
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started