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Comment on the ability of the Corporation to increase its assets

Comment on the ability of the Corporation to increase its assets

FINANCIAL ACCOUNTING
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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Answer using the picture 3) Comment on the ability of the Corporation to increase its assets 

Net Sales Cost of Goods Sold Operating Expenses Earnings Before Tax Income Tax Net Income Assets Current Assets Cash Short Term Investments Accounts Receivble Inventory Prepaid Expenses Total Current Assets Non Current Assets Furniture Equipment Buildings Accumulated Depreciation Other Assets Total Assets Current Liabilities Notes Payable Accounts Payable Accured Expenses Income Tax Payable Accrued Wages Total Current Liabilities Comparative Income Statement For NIKI Corporation Year 2016 Year 2015 3,295,679 2,960,409 2,121,789 1,955,553 749,002 665,015 424,888 339,841 166,464 129,140 258,424 210,701 Comparative Statement of Financial Position for NIKI Corpo Year 2016 Year 2015 460,332 83,479 15,225 331,155 66,229 956,438 243,302 0 9,886 365,692 71,897 690,777 128,670 288,219 404,952 116,623 556,858 490,791 <350,058> <245,265> 740,422 66,257 1,763,117 650,368 38,103 1,379,248 Liabilities and Stock Holders Equity Year 2016 Year 2015 7,603 0 216,664 193,375 163,350 128,301 70,431 10,624 4,196 2,828 462,244 355,128
Transcribed Image Text:Net Sales Cost of Goods Sold Operating Expenses Earnings Before Tax Income Tax Net Income Assets Current Assets Cash Short Term Investments Accounts Receivble Inventory Prepaid Expenses Total Current Assets Non Current Assets Furniture Equipment Buildings Accumulated Depreciation Other Assets Total Assets Current Liabilities Notes Payable Accounts Payable Accured Expenses Income Tax Payable Accrued Wages Total Current Liabilities Comparative Income Statement For NIKI Corporation Year 2016 Year 2015 3,295,679 2,960,409 2,121,789 1,955,553 749,002 665,015 424,888 339,841 166,464 129,140 258,424 210,701 Comparative Statement of Financial Position for NIKI Corpo Year 2016 Year 2015 460,332 83,479 15,225 331,155 66,229 956,438 243,302 0 9,886 365,692 71,897 690,777 128,670 288,219 404,952 116,623 556,858 490,791 <350,058> <245,265> 740,422 66,257 1,763,117 650,368 38,103 1,379,248 Liabilities and Stock Holders Equity Year 2016 Year 2015 7,603 0 216,664 193,375 163,350 128,301 70,431 10,624 4,196 2,828 462,244 355,128
Long Term Liabilities Long Term Debt Other Long Term Liabilities Shareholder's Equity Common Stock Additional Paid in Capital Retained Earnings Total Liabilities and Stockholders Equity 75,000 99,398 174,398 75,000 81,281 156,281 7,733 7,787 184,306 151,107 934,382 728,999 1,126,475 887,839 1,763,117 1,379,248
Transcribed Image Text:Long Term Liabilities Long Term Debt Other Long Term Liabilities Shareholder's Equity Common Stock Additional Paid in Capital Retained Earnings Total Liabilities and Stockholders Equity 75,000 99,398 174,398 75,000 81,281 156,281 7,733 7,787 184,306 151,107 934,382 728,999 1,126,475 887,839 1,763,117 1,379,248
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