BALANCE SHEET INCOME STATEMENT Current Assets: 2017 2018 2018 Cash $ 143,000 $ 154,775 $ 178,000 $ 231,400 $ 358,000 $ 465,400 $ 33,000 $ $ 2,082,600 $ 1,280,500 $ 802,100 $ 258,700 $ Total Revenue Accounts receivable Cost of Goods Sold Inventories Prepaid expenses Gross Profit 42,900 $ 712,000 $ 894,475 Salaries and wages Marketing expenses Total Current Assets 59,800 $ 127,400 $ 24 Non-Current Assets: SG&A Furniture and fixtures Buildings and property Accumulated Depreciation) $ 150,000 $ 160,000 $ 540,000 $ 555,000 $ (198,000) $ (244,500) $ 492,000 $ 470,500 $ 1,204,000 $ 1,364,975 48,000 Insurance expense Depreciation expense Operating Profit Interest expense 46,500 $ 261,700 Total Non-Current Assets 18,000 Total Assets Тахes $ 60,925 $ 182,775 Net Income Current Liabilities: Accounts Payable $ 196,000 $ 254,800 $ Salaries and wages payable Current portion of bank loan 30,000 $ 39,000 45,000 $ 18,000 $ $ 289,000 $ 362,200 $ 45,000 Deferred revenue 23,400 Total Current Liabilities Non-Current Liabilities: $ 255,000 $ 210,000 $ 255,000 $ 210,000 Bank Loan Total Non-Current Liab. Dwners' Equity: Contributed Capital Retained earnings Total Equity $ 260,000 $ 260,000 $ 400,000 $ 532,775 $ 660,000 $ 792,775 $ 1,204,000 $ 1,364,975 Total Liabilities &OE
BALANCE SHEET INCOME STATEMENT Current Assets: 2017 2018 2018 Cash $ 143,000 $ 154,775 $ 178,000 $ 231,400 $ 358,000 $ 465,400 $ 33,000 $ $ 2,082,600 $ 1,280,500 $ 802,100 $ 258,700 $ Total Revenue Accounts receivable Cost of Goods Sold Inventories Prepaid expenses Gross Profit 42,900 $ 712,000 $ 894,475 Salaries and wages Marketing expenses Total Current Assets 59,800 $ 127,400 $ 24 Non-Current Assets: SG&A Furniture and fixtures Buildings and property Accumulated Depreciation) $ 150,000 $ 160,000 $ 540,000 $ 555,000 $ (198,000) $ (244,500) $ 492,000 $ 470,500 $ 1,204,000 $ 1,364,975 48,000 Insurance expense Depreciation expense Operating Profit Interest expense 46,500 $ 261,700 Total Non-Current Assets 18,000 Total Assets Тахes $ 60,925 $ 182,775 Net Income Current Liabilities: Accounts Payable $ 196,000 $ 254,800 $ Salaries and wages payable Current portion of bank loan 30,000 $ 39,000 45,000 $ 18,000 $ $ 289,000 $ 362,200 $ 45,000 Deferred revenue 23,400 Total Current Liabilities Non-Current Liabilities: $ 255,000 $ 210,000 $ 255,000 $ 210,000 Bank Loan Total Non-Current Liab. Dwners' Equity: Contributed Capital Retained earnings Total Equity $ 260,000 $ 260,000 $ 400,000 $ 532,775 $ 660,000 $ 792,775 $ 1,204,000 $ 1,364,975 Total Liabilities &OE
Fundamentals of Financial Management (MindTap Course List)
15th Edition
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter4: Analysis Of Financial Statements
Section: Chapter Questions
Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...
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