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The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities Total assets. Assets 2021 $ 4,200 1,700 460 350 540 110 470 310 380 $ 5,600 2,700 780 320 730 2021 • Taxes are paid in their entirety in the year that the tax obligation is incurred. Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct a balance sheet for Fincorp for 2021 and 2022. Note: Enter your answers in thousands of dollars. 2022 $ 4,300 1,800 0 480 395 590 $ 110 490 340 420 6,210 3,140 520 320 360 Fincorp Incorporated Balance Sheet 2022 Liabilities and Shareholders' Equity Total liabilities 0 Total liabilities and shareholders' equity $ $ 2021 HER 0 S 0 S 2022 0 0

The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities Total assets. Assets 2021 $ 4,200 1,700 460 350 540 110 470 310 380 $ 5,600 2,700 780 320 730 2021 • Taxes are paid in their entirety in the year that the tax obligation is incurred. Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. Construct a balance sheet for Fincorp for 2021 and 2022. Note: Enter your answers in thousands of dollars. 2022 $ 4,300 1,800 0 480 395 590 $ 110 490 340 420 6,210 3,140 520 320 360 Fincorp Incorporated Balance Sheet 2022 Liabilities and Shareholders' Equity Total liabilities 0 Total liabilities and shareholders' equity $ $ 2021 HER 0 S 0 S 2022 0 0

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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The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold. Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets* Long-term debt Notes payable Dividends paid Cash and marketable securities Total assets 2021 $ 4,200 1,700 460 350 540 110 Assets 470 310 380 5,600 2,700 $ * Taxes are paid in their entirety in t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. 780 320 730 year that the tax obligation is incurred. Construct a balance sheet for Fincorp for 2021 and 2022 Note: Enter your answers in thousands of dollars. 2021 2022 $ 4,300 1,800 480 395 590 110 490 340 420 6,210 3,140 520 320 360 0 $ Fincorp Incorporated Balance Sheet 2022 Liabilities and Shareholders' Equity Total liabilities 0 Total liabilities and shareholders' equity $ $ 2021 0 S 0 $ 2022 0 0
Transcribed Image Text:The table below contains data on Fincorp Incorporated. The balance sheet items correspond to values at year-end 2021 and 2022, while the income statement items correspond to revenues or expenses during the year ended 2021 and 2022. All values are in thousands of dollars. Revenue Cost of goods sold. Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets* Long-term debt Notes payable Dividends paid Cash and marketable securities Total assets 2021 $ 4,200 1,700 460 350 540 110 Assets 470 310 380 5,600 2,700 $ * Taxes are paid in their entirety in t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. 780 320 730 year that the tax obligation is incurred. Construct a balance sheet for Fincorp for 2021 and 2022 Note: Enter your answers in thousands of dollars. 2021 2022 $ 4,300 1,800 480 395 590 110 490 340 420 6,210 3,140 520 320 360 0 $ Fincorp Incorporated Balance Sheet 2022 Liabilities and Shareholders' Equity Total liabilities 0 Total liabilities and shareholders' equity $ $ 2021 0 S 0 $ 2022 0 0
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