Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Using the table below create SinCo's Income Statement for 2013 and 2014. (Do not round intermediate calculations. Round your answer to 2 decimal places.) 2017
Using the table below create SinCo's Income Statement for 2013 and 2014.(Do not round intermediate calculations. Round your answer to 2 decimal places.)
2017 | 2018 | |
---|---|---|
Revenue | $4,000 | 4053 |
Cost of Good Sold | 1,600 | 1,702 |
Depreciation | 500 | 505 |
Inventory | 300 | 352 |
SG&A | 500 | 545 |
Interest Expenses | 150 | 160 |
Common Stock and Paid-in Capital | 2,200 | 2,200 |
Federal and State Taxes (35% of EBT) | 400 | |
Accounts Payable | 300 | 315 |
Accounts Receivable | 400 | 437 |
Net Fixed Assets | 5,000 | 5269 |
Retained Earnings (Balance Sheet) | 1,000 | |
Long-Term Debt | 2,000 | 2338 |
Notes Payable | 1,000 | 855 |
Dividends Paid | 410 | 410 |
Cash | 800 |
What is SinCo's EBITDA for 2014? | |
What is SinCo's EBIT for 2014? | |
What is SinCo's Net Income for 2014? |
Now uses the above table to create a Balance Sheet for 2013 and 2014
What is SinCo's 2014 Retained Earnings | |
What is Total Liabilities and Shareholders Equity | |
What is SinCo's Total Assets | |
What is SinCo's 2014 Cash | |
What is SinCo's 2014 Total Current Assets |
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