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Cash Assets Accounts receivable Inventory INGERSOLL, INCORPORATED Balance Sheet as of December 31 2020 2021 $ 6,292 $ 6,916 8,190 9,877 14,538 15,438 Current assets $ 28,020 $ 32,231 Net fixed assets 51,218 54,723 Total assets $ 79,238 $ 86,954 Liabilities & Equity Accounts payable $ 4,624 $ 5,094 Notes payable 1,320 1,297 Current liabilities Long-term debt $ 5,944 $ 6,391 21,770 30,402 Total liabilities & owners' equity $ 79,238 $ 86,954 Prepare an income statement for this company for 2020 and 2021. (Enter all answers as positive values. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) INGERSOLL, INCORPORATED Income Statement 2020 2021 Sales COGS $ 19,073.00 S 17,436.00 (4,729.00) (4,857.00) Other expenses (1,021.00) 12,579.00 Depreciation (1,811.00) (1,886.00) EBIT $ (899.00) Interest (870.00) (1,001.00) EBT $ 10,642.00 $ 8,793.00 Taxes (2,445.00) (2,020.00) Net income $ 8,197.00 $ 6,773.00 Dividends Additions to RE Problem 2-21 Financial Statements Use the following information for Ingersoll, Incorporated. Assume the tax rate is 23 percent. 2020 2021 Sales Depreciation $ 19,073 $17,436 1,811 1,886 Cost of goods sold 4,729 4,857 Other expenses 1,021 899 Interest 870 1,001 Cash 6,292 6,916 Accounts receivable 8,190 9,877 Short-term notes payable 1,320 1,297 Long-term debt 20,770 25,011 Net fixed assets 51,218 54,723 Accounts payable 4,624 5,094 Inventory 14,538 15,438 1,700 1,768 Dividends Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.) Cash Assets Accounts receivable Inventory INGERSOLL, INCORPORATED Balance Sheet as of December 31 2020 2021 $ 6,292 $ 6,916 8,190 9,877 14,538 15,438 Drov 14 of 20 Ne

Cash Assets Accounts receivable Inventory INGERSOLL, INCORPORATED Balance Sheet as of December 31 2020 2021 $ 6,292 $ 6,916 8,190 9,877 14,538 15,438 Current assets $ 28,020 $ 32,231 Net fixed assets 51,218 54,723 Total assets $ 79,238 $ 86,954 Liabilities & Equity Accounts payable $ 4,624 $ 5,094 Notes payable 1,320 1,297 Current liabilities Long-term debt $ 5,944 $ 6,391 21,770 30,402 Total liabilities & owners' equity $ 79,238 $ 86,954 Prepare an income statement for this company for 2020 and 2021. (Enter all answers as positive values. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) INGERSOLL, INCORPORATED Income Statement 2020 2021 Sales COGS $ 19,073.00 S 17,436.00 (4,729.00) (4,857.00) Other expenses (1,021.00) 12,579.00 Depreciation (1,811.00) (1,886.00) EBIT $ (899.00) Interest (870.00) (1,001.00) EBT $ 10,642.00 $ 8,793.00 Taxes (2,445.00) (2,020.00) Net income $ 8,197.00 $ 6,773.00 Dividends Additions to RE Problem 2-21 Financial Statements Use the following information for Ingersoll, Incorporated. Assume the tax rate is 23 percent. 2020 2021 Sales Depreciation $ 19,073 $17,436 1,811 1,886 Cost of goods sold 4,729 4,857 Other expenses 1,021 899 Interest 870 1,001 Cash 6,292 6,916 Accounts receivable 8,190 9,877 Short-term notes payable 1,320 1,297 Long-term debt 20,770 25,011 Net fixed assets 51,218 54,723 Accounts payable 4,624 5,094 Inventory 14,538 15,438 1,700 1,768 Dividends Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.) Cash Assets Accounts receivable Inventory INGERSOLL, INCORPORATED Balance Sheet as of December 31 2020 2021 $ 6,292 $ 6,916 8,190 9,877 14,538 15,438 Drov 14 of 20 Ne

Fundamentals of Financial Management (MindTap Course List)
Fundamentals of Financial Management (MindTap Course List)
15th Edition
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter4: Analysis Of Financial Statements
Section: Chapter Questions
Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...
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Cash Assets Accounts receivable Inventory INGERSOLL, INCORPORATED Balance Sheet as of December 31 2020 2021 $ 6,292 $ 6,916 8,190 9,877 14,538 15,438 Current assets $ 28,020 $ 32,231 Net fixed assets 51,218 54,723 Total assets $ 79,238 $ 86,954 Liabilities & Equity Accounts payable $ 4,624 $ 5,094 Notes payable 1,320 1,297 Current liabilities Long-term debt $ 5,944 $ 6,391 21,770 30,402 Total liabilities & owners' equity $ 79,238 $ 86,954 Prepare an income statement for this company for 2020 and 2021. (Enter all answers as positive values. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) INGERSOLL, INCORPORATED Income Statement 2020 2021 Sales COGS $ 19,073.00 S 17,436.00 (4,729.00) (4,857.00) Other expenses (1,021.00) 12,579.00 Depreciation (1,811.00) (1,886.00) EBIT $ (899.00) Interest (870.00) (1,001.00) EBT $ 10,642.00 $ 8,793.00 Taxes (2,445.00) (2,020.00) Net income $ 8,197.00 $ 6,773.00 Dividends Additions to RE
Transcribed Image Text:Cash Assets Accounts receivable Inventory INGERSOLL, INCORPORATED Balance Sheet as of December 31 2020 2021 $ 6,292 $ 6,916 8,190 9,877 14,538 15,438 Current assets $ 28,020 $ 32,231 Net fixed assets 51,218 54,723 Total assets $ 79,238 $ 86,954 Liabilities & Equity Accounts payable $ 4,624 $ 5,094 Notes payable 1,320 1,297 Current liabilities Long-term debt $ 5,944 $ 6,391 21,770 30,402 Total liabilities & owners' equity $ 79,238 $ 86,954 Prepare an income statement for this company for 2020 and 2021. (Enter all answers as positive values. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) INGERSOLL, INCORPORATED Income Statement 2020 2021 Sales COGS $ 19,073.00 S 17,436.00 (4,729.00) (4,857.00) Other expenses (1,021.00) 12,579.00 Depreciation (1,811.00) (1,886.00) EBIT $ (899.00) Interest (870.00) (1,001.00) EBT $ 10,642.00 $ 8,793.00 Taxes (2,445.00) (2,020.00) Net income $ 8,197.00 $ 6,773.00 Dividends Additions to RE
Problem 2-21 Financial Statements Use the following information for Ingersoll, Incorporated. Assume the tax rate is 23 percent. 2020 2021 Sales Depreciation $ 19,073 $17,436 1,811 1,886 Cost of goods sold 4,729 4,857 Other expenses 1,021 899 Interest 870 1,001 Cash 6,292 6,916 Accounts receivable 8,190 9,877 Short-term notes payable 1,320 1,297 Long-term debt 20,770 25,011 Net fixed assets 51,218 54,723 Accounts payable 4,624 5,094 Inventory 14,538 15,438 1,700 1,768 Dividends Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.) Cash Assets Accounts receivable Inventory INGERSOLL, INCORPORATED Balance Sheet as of December 31 2020 2021 $ 6,292 $ 6,916 8,190 9,877 14,538 15,438 Drov 14 of 20 Ne
Transcribed Image Text:Problem 2-21 Financial Statements Use the following information for Ingersoll, Incorporated. Assume the tax rate is 23 percent. 2020 2021 Sales Depreciation $ 19,073 $17,436 1,811 1,886 Cost of goods sold 4,729 4,857 Other expenses 1,021 899 Interest 870 1,001 Cash 6,292 6,916 Accounts receivable 8,190 9,877 Short-term notes payable 1,320 1,297 Long-term debt 20,770 25,011 Net fixed assets 51,218 54,723 Accounts payable 4,624 5,094 Inventory 14,538 15,438 1,700 1,768 Dividends Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.) Cash Assets Accounts receivable Inventory INGERSOLL, INCORPORATED Balance Sheet as of December 31 2020 2021 $ 6,292 $ 6,916 8,190 9,877 14,538 15,438 Drov 14 of 20 Ne
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