Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.) Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses EBIT Interest expense Taxable income Taxes Net income Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt. Total current liabilities Long-term bonds Total liabilities 2020 $ 5,690,000 2,985,000 295, 200 1,581,000 828,800 159,000 669,800 302,400 367,400 19. $ $ Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2020 44,900 618,000 458,800 $ 1,121,700 2,932,000 $ 4,053,700 323,400 494,000 817,400 2,035,300 $ 2,852,700 $ 311,900 889, 100 1,201,000 $ $ 4,053,700 $ 2019 71,000 1,229, 300 855,100 $ 2,155,400 5,028,000 $ 7,183,400 $ 854,000 1,047,300 $ 1,901,300 4,188,500 $ 6,089,800 $ 311,900 781,700 $ 1,093,600 $ 7,183,400

Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.) Income Statement Sales Cost of goods sold Depreciation Selling and administrative expenses EBIT Interest expense Taxable income Taxes Net income Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt. Total current liabilities Long-term bonds Total liabilities 2020 $ 5,690,000 2,985,000 295, 200 1,581,000 828,800 159,000 669,800 302,400 367,400 19. $ $ Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2020 44,900 618,000 458,800 $ 1,121,700 2,932,000 $ 4,053,700 323,400 494,000 817,400 2,035,300 $ 2,852,700 $ 311,900 889, 100 1,201,000 $ $ 4,053,700 $ 2019 71,000 1,229, 300 855,100 $ 2,155,400 5,028,000 $ 7,183,400 $ 854,000 1,047,300 $ 1,901,300 4,188,500 $ 6,089,800 $ 311,900 781,700 $ 1,093,600 $ 7,183,400

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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