a. Know: Identify the three major financial statements. b. Understand: Company B has assets totaling $100,000, but liabilities of $70,000. Calculate Company B's owner's equity? c. Apply: In 2022, Company A had net sales of $465,000, cost of goods sold at $260,000, total operating expenses at 100,000 with taxes of 16,000. In 2022, Company B hadnet sales of 440,000, cost of goods sold at $247,000 total operating expenses at 40,000 with taxes of 12,000. Write three sentences or more in which you calculate and compare the bottom line of two companies.
a. Know: Identify the three major financial statements. b. Understand: Company B has assets totaling $100,000, but liabilities of $70,000. Calculate Company B's owner's equity? c. Apply: In 2022, Company A had net sales of $465,000, cost of goods sold at $260,000, total operating expenses at 100,000 with taxes of 16,000. In 2022, Company B hadnet sales of 440,000, cost of goods sold at $247,000 total operating expenses at 40,000 with taxes of 12,000. Write three sentences or more in which you calculate and compare the bottom line of two companies.
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 12P
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