Use the following information for Ingersoll, Inc., (assume the tax rate is 23 percent): 2019 2020 Sales $ 15,073 $15,036 Depreciation 1,731 1,806 Cost of goods sold 4,329 4,777 Other expenses 981 859 Interest 830 961 Cash 6,172 6,676 Accounts receivable 8,110 9,637 Long-term debt 20,530 24,811 Net fixed assets 51,042 54,483 Accounts payable 5,736 6,071 Inventory 14,402 15,358 Dividends 1,300 1,688 Prepare a balance sheet for this company for 2019 and 2020. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.) INGERSOLL, INC. Assets Cash Accounts receivable Net fixed assets Inventory Current assets Balance Sheet as of Dec. 31 2019 2020 $ 6,172 $ 6,676 8,110 9,637 51,042 54,483 14,402 15,358 Total assets $ 86,654 $ 89,154 Liabilities Accounts payable $ 5,736 $ 6,071 Long-term debt 20,530 24,811
Use the following information for Ingersoll, Inc., (assume the tax rate is 23 percent): 2019 2020 Sales $ 15,073 $15,036 Depreciation 1,731 1,806 Cost of goods sold 4,329 4,777 Other expenses 981 859 Interest 830 961 Cash 6,172 6,676 Accounts receivable 8,110 9,637 Long-term debt 20,530 24,811 Net fixed assets 51,042 54,483 Accounts payable 5,736 6,071 Inventory 14,402 15,358 Dividends 1,300 1,688 Prepare a balance sheet for this company for 2019 and 2020. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.) INGERSOLL, INC. Assets Cash Accounts receivable Net fixed assets Inventory Current assets Balance Sheet as of Dec. 31 2019 2020 $ 6,172 $ 6,676 8,110 9,637 51,042 54,483 14,402 15,358 Total assets $ 86,654 $ 89,154 Liabilities Accounts payable $ 5,736 $ 6,071 Long-term debt 20,530 24,811
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Use the following information for Ingersoll, Inc., (assume the tax rate is 23 percent):
2019
2020
Sales
$ 15,073
$15,036
Depreciation
1,731
1,806
Cost of goods sold
4,329
4,777
Other expenses
981
859
Interest
830
961
Cash
6,172
6,676
Accounts receivable
8,110
9,637
Long-term debt
20,530
24,811
Net fixed assets
51,042
54,483
Accounts payable
5,736
6,071
Inventory
14,402
15,358
Dividends
1,300
1,688
Prepare a balance sheet for this company for 2019 and 2020. (Do not round
intermediate calculations. Be sure to list the accounts in order of their liquidity.)
INGERSOLL, INC.
Assets
Cash
Accounts receivable
Net fixed assets
Inventory
Current assets
Balance Sheet as of Dec. 31
2019
2020
$
6,172 $
6,676
8,110
9,637
51,042
54,483
14,402
15,358
Total assets
$
86,654 $
89,154
Liabilities
Accounts payable
$
5,736 $
6,071
Long-term debt
20,530
24,811
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