Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Calculate

Transcribed Image Text:Cash
Accounts Receivable
Inventory
Current Assets
Fixed Assets
Gross
Accumulated Deprecation
Net Fixed Assets
Total Assets
Assets
$
$
$
$
$
12/31/2020
2,000 $
4,832
3,217
10,049 $
35,183 $
(22,640)
12,543 $
22,592 $
Cortland, Inc.
Balance Sheet
12/31/2021
4,800
6,614
2,843
14,257
39,456
(24,852)
14,604
28,861
Accounts Payable
Salary Payable
Current Liabilities
Long Term Debt
Total Liabilities
Common Stock
Retained Earnings
Total Equity
Total Liabilities and Equity
Liabilities
$
$
$
Equity
$
$
60
$
10
12/31/2020
1,600 $
315
1,915 $
1,823
3,738 $
10,000 $
8,854
18,854 $
22,592 $
12/31/2021
3,573
1,228
4,801
409
5,210
13,500
10,151
23,651
28,861

Transcribed Image Text:Cortland, Inc.
Income Statement
For Year Ended 12/31/21
Sales
Cost of Goods
Deprecation
Operating Expenses
EBIT
Interest
EBT
Tax
Net Income
Dividends
Addition to R/E
$ 40,000
12,512
2,212
17,275
$ 8,001
180
$ 7,821
2,265
$ 5,556
4,259
1,297
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