Balance Sheet as at December Current Assets Cash Accounts Receivable Inventory Total Current Assets Fixed Assets Property, Plant & Equipment Less Accumulated Depreciation Property, Plant & Equipment, net Total Assets Liabilities and S/H Equity Current Liabilities Accounts Payable Notes Payable and short-term debt Total Current Liabilities Long-Term Debt Shareholders' Equity Common Shares Pald-In Capital Retained Earnings Total Total Liabilities and S/H Equity ABC Inc. Income Statement for 2015 and 2016 ($ thousands) Revenue Cost of Goods Sold 2015 and Operating Expenses Depreciation Earnings Before Interest & Taxes (EBIT) Interest Paid Income Before Taxes (EBT) Taxes Paid Net Income (NI) Dividend housands) 2015 $ 200 450 550 $1,200 2,200 (1,000) 1,200 $2,400 $ 200 0 $ 200 $ 600 300 600 700 $1,600 $2,400 2015 $1,200 700 30 220 $ 250 50 $ 200 80 $ 120 $ 2016 $ 150 425 625 $1,200 2,700 (1,200) 1.500 $2,700 $ 150 150 300 2016 $1,450 850 40 200 $360 60 $ 300 120 180 80 700 300 600 800 $1,700 $2,700 1

Balance Sheet as at December Current Assets Cash Accounts Receivable Inventory Total Current Assets Fixed Assets Property, Plant & Equipment Less Accumulated Depreciation Property, Plant & Equipment, net Total Assets Liabilities and S/H Equity Current Liabilities Accounts Payable Notes Payable and short-term debt Total Current Liabilities Long-Term Debt Shareholders' Equity Common Shares Pald-In Capital Retained Earnings Total Total Liabilities and S/H Equity ABC Inc. Income Statement for 2015 and 2016 ($ thousands) Revenue Cost of Goods Sold 2015 and Operating Expenses Depreciation Earnings Before Interest & Taxes (EBIT) Interest Paid Income Before Taxes (EBT) Taxes Paid Net Income (NI) Dividend housands) 2015 $ 200 450 550 $1,200 2,200 (1,000) 1,200 $2,400 $ 200 0 $ 200 $ 600 300 600 700 $1,600 $2,400 2015 $1,200 700 30 220 $ 250 50 $ 200 80 $ 120 $ 2016 $ 150 425 625 $1,200 2,700 (1,200) 1.500 $2,700 $ 150 150 300 2016 $1,450 850 40 200 $360 60 $ 300 120 180 80 700 300 600 800 $1,700 $2,700 1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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