Income Statement Net Sales Cost of Goods Sold Gross Profit Marketing General & Administrative Depreciation. EBIT Interest Earnings Before Taxes Income Taxes Net Income Balance Sheet Cash Accounts Receivables Inventories Total Current Assets Net Fixed Assets Total Assets Accounts Payable Accruals Bank Loan Total Current Liabilities Long-Term Debt Common Stock ($.05 par) Additional Paid-in-Capital Retained Earnings Total Liab. & Equity 2018 2019 $1,300,000 $1,600,000 780,000 960,000 520,000 640,000 160,000 150,000 130,000 150,000 40,000 200,000 45,000 155,000 62,000 93,000 2018 $50,000 200,000 450,000 700,000 300,000 1,000,000 130,000 50,000 90,000 270,000 400,000 50,000 200,000 80,000 1,000,000 55,000 275,000 55,000 220,000 88,000 132,000 2019 $50,000 300,000 570,000 920,000 380,000 1,300,000 $180,000 70,000 90,000 340,000 550,000 50,000 200,000 160,000 1,300,000

Income Statement Net Sales Cost of Goods Sold Gross Profit Marketing General & Administrative Depreciation. EBIT Interest Earnings Before Taxes Income Taxes Net Income Balance Sheet Cash Accounts Receivables Inventories Total Current Assets Net Fixed Assets Total Assets Accounts Payable Accruals Bank Loan Total Current Liabilities Long-Term Debt Common Stock ($.05 par) Additional Paid-in-Capital Retained Earnings Total Liab. & Equity 2018 2019 $1,300,000 $1,600,000 780,000 960,000 520,000 640,000 160,000 150,000 130,000 150,000 40,000 200,000 45,000 155,000 62,000 93,000 2018 $50,000 200,000 450,000 700,000 300,000 1,000,000 130,000 50,000 90,000 270,000 400,000 50,000 200,000 80,000 1,000,000 55,000 275,000 55,000 220,000 88,000 132,000 2019 $50,000 300,000 570,000 920,000 380,000 1,300,000 $180,000 70,000 90,000 340,000 550,000 50,000 200,000 160,000 1,300,000

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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