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Income Statement For Year Ending December 31 2003 2002 2001 Sales 5,550,000 6,500,000 3,965,000 2,535,000 4,050,000 Cost of Goods Sold Gross Profit Depreciation Other Operating Expenses Eamings Before Interest and Taxes 3,385,500 2,430,000 2,164,500 287,200 1,387,500 489,800 160,125 1,620,000 485,600 158,500 1,012,500 449,000 50,645 1,690,000 359,400 331,956 27,444 10,978 16,467 Interest Eamings Before Taxes 329,675 398,355 131,870 197,805 Income Taxes 159,342 239,013 Net Income Balance Sheet For Year Ending December 31 2003 2002 2001 57,000 95,000 1,050,000 42,000 1,244,000 7,288,800 2,432,800 4,856,000 6,100,000 Cash 110,000 59,000 723,000 155,000 45,000 Accounts Receivable Inventories Prepaid Expenses Total Current Assets Property, Plant and Equipment Less: Accumulative Depreciation Net Property, Plant and Equipment Total Assets 540,000 25,000 765,000 3,245,000 1,660,000 1,585,000 2,350,000 36,000 928,000 4,819,200 1,947,200 2,872,000 3,800,000 Accounts Payable Line of Credit Current Portion of Long-term Debt Total Current Liabilities Long-term Debt Equity Total Liabilities and Equity 165,000 353,000 162,000 680,000 1,620,000 99,000 267,435 440,556 570,638 325,346 1,336,540 3,253,460 41,461 407,895 1,510,000 6,100,000 1,500,000 3,800,000 414,605 1,527,500 2,350,000

Income Statement For Year Ending December 31 2003 2002 2001 Sales 5,550,000 6,500,000 3,965,000 2,535,000 4,050,000 Cost of Goods Sold Gross Profit Depreciation Other Operating Expenses Eamings Before Interest and Taxes 3,385,500 2,430,000 2,164,500 287,200 1,387,500 489,800 160,125 1,620,000 485,600 158,500 1,012,500 449,000 50,645 1,690,000 359,400 331,956 27,444 10,978 16,467 Interest Eamings Before Taxes 329,675 398,355 131,870 197,805 Income Taxes 159,342 239,013 Net Income Balance Sheet For Year Ending December 31 2003 2002 2001 57,000 95,000 1,050,000 42,000 1,244,000 7,288,800 2,432,800 4,856,000 6,100,000 Cash 110,000 59,000 723,000 155,000 45,000 Accounts Receivable Inventories Prepaid Expenses Total Current Assets Property, Plant and Equipment Less: Accumulative Depreciation Net Property, Plant and Equipment Total Assets 540,000 25,000 765,000 3,245,000 1,660,000 1,585,000 2,350,000 36,000 928,000 4,819,200 1,947,200 2,872,000 3,800,000 Accounts Payable Line of Credit Current Portion of Long-term Debt Total Current Liabilities Long-term Debt Equity Total Liabilities and Equity 165,000 353,000 162,000 680,000 1,620,000 99,000 267,435 440,556 570,638 325,346 1,336,540 3,253,460 41,461 407,895 1,510,000 6,100,000 1,500,000 3,800,000 414,605 1,527,500 2,350,000

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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calculate cash flow statement for the year 2003 and 2002 in a table form neatly. (not 2001)

Income Statement For Year Ending December 31 2003 2002 2001 Sales 5,550,000 6,500,000 3,965,000 2,535,000 485,600 1,690,000 4,050,000 2,430,000 1,620,000 158,500 Cost of Goods Sold 3,385,500 Gross Profit 2,164,500 287,200 Depreciation Other Operating Expenses Eamings Before Interest and Taxes 1,387,500 1,012,500 449,000 50,645 398,355 159,342 239,013 359,400 489,800 331,956 27,444 Interest 160,125 Eamings Before Taxes 329,675 131,870 197,805 Income Taxes 10,978 Net Income 16,467 Balance Sheet For Year Ending December 31 2003 2002 2001 Cash 57,000 95,000 1,050,000 42,000 1,244,000 7,288,800 2,432,800 4,856,000 6,100,000 110,000 59,000 155,000 45,000 540,000 25,000 765,000 Accounts Receivable Inventories 723,000 Prepaid Expenses Total Current Assets Property, Plant and Equipment Less: Accumulative Depreciation Net Property, Plant and Equipment Total Assets 36,000 928,000 4,819,200 1,947,200 2,872,000 3,800,000 3,245,000 1,660,000 1,585,000 2,350,000 Accounts Payable Line of Credit Current Portion of Long-term Debt Total Current Liabilities Long-term Debt Equity Total Liabilities and Equity 440,556 570,638 325,346 1,336,540 3,253,460 1,510,000 165,000 353,000 162,000 680,000 1,620,000 99,000 267,435 41,461 407,895 414,605 1,527,500 2,350,000 1,500,000 6,100,000 3,800,000
Transcribed Image Text:Income Statement For Year Ending December 31 2003 2002 2001 Sales 5,550,000 6,500,000 3,965,000 2,535,000 485,600 1,690,000 4,050,000 2,430,000 1,620,000 158,500 Cost of Goods Sold 3,385,500 Gross Profit 2,164,500 287,200 Depreciation Other Operating Expenses Eamings Before Interest and Taxes 1,387,500 1,012,500 449,000 50,645 398,355 159,342 239,013 359,400 489,800 331,956 27,444 Interest 160,125 Eamings Before Taxes 329,675 131,870 197,805 Income Taxes 10,978 Net Income 16,467 Balance Sheet For Year Ending December 31 2003 2002 2001 Cash 57,000 95,000 1,050,000 42,000 1,244,000 7,288,800 2,432,800 4,856,000 6,100,000 110,000 59,000 155,000 45,000 540,000 25,000 765,000 Accounts Receivable Inventories 723,000 Prepaid Expenses Total Current Assets Property, Plant and Equipment Less: Accumulative Depreciation Net Property, Plant and Equipment Total Assets 36,000 928,000 4,819,200 1,947,200 2,872,000 3,800,000 3,245,000 1,660,000 1,585,000 2,350,000 Accounts Payable Line of Credit Current Portion of Long-term Debt Total Current Liabilities Long-term Debt Equity Total Liabilities and Equity 440,556 570,638 325,346 1,336,540 3,253,460 1,510,000 165,000 353,000 162,000 680,000 1,620,000 99,000 267,435 41,461 407,895 414,605 1,527,500 2,350,000 1,500,000 6,100,000 3,800,000
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