Use the following information for Ingersoll, Incorporated. Assume the tax rate is 22percent.SalesDepreciationCost of goods soldOther expensesInterestCashAccounts receivableShort-term notes payableLong-term debtNet fixed assetsAccounts payableInventoryDividendsCurrent assets20202021$18,573 $17,1361,8764,8478949961,8014,6791,016865Assets6,2778,1801,3106,8869,8471,28720,74024,98651,19654,6934,6085,06414,521 15,4281,650 1,758Prepare a balance sheet for this company for 2020 Ind 2021. (Do not roundintermediate calculations.)INGERSOLL, INCORPORATEDBalance Sheet as of December 3120202021

**INGERSOLL, INCORPORATED****Balance Sheet as of December 31****Assets** | **2020** |…

Answered: Use the following information for…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Golden Corporation's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 171,000 $ 114,700 Accounts receivable 93,500 78,000 Inventory 611,500 533,000 Total current assets 876,000 725,700 Equipment 353,800 306,000 Accumulated depreciation—Equipment (161,500) (107,500) Total assets $ 1,068,300 $ 924,200 Liabilities and Equity Accounts payable $ 101,000 $ 78,000 Income taxes payable 35,000 28,600 Total current liabilities 136,000 106,600 Equity Common stock, $2 par value…
Use the following information to build an income statement and answer the following question: Sales of $760,000, current assets of $5,400,000 net fixed assets of $28,100,000, and long-term debt of $10,600,000, costs of $316,000, depreciation expense of $39,000, interest expense of $34,000, current liabilities of $4,100,000, and a tax rate of 21 percent. The firm paid out $150,000 in cash dividends and has 100,000 shares of common stock outstanding. What is the addition to retained earnings? O $143,090 O $140,000 O $145,050 O $153,000
4
An after-tax cash flow analysis produced the data below for the year 2013. Determine the after-tax cash flow for 2013? Before-Tax-and-Loan = $23,000 Loan Principal Payment = $3,203 Loan Interest Payment = $3,878 Depreciation Deduction = $12,490 Taxable Income = $6,633 Taxes Due = $1,658 [enter your answer as a whole number, with no dollar sign or comma] 17,465
108. Subject :- Accounting
302. Subject : - finance
Sohar Co. had the following information in 2020: Sales 180000 COGS 80000 ast ... Operating expenses (including depreciation) Depreciation expense Interest expense ber... 32000 4200 en... 9000 ... ... Taxes 4000 Increase in Accounts receivable 7000 [p Decrease in inventory Increase in Accounts payable Decrease in other payables Increase in interest payable Decrease in tax payable 4000 5000 4500 2300 2000 Prepare operating cash flows using direct method.
Need to find : a) Net Interest Income b) Profit Before Taxes Please help me with proper steps
Please show work in Excel.
10 Antignolo Enterprises, Inc. (a corporation) reported the following information for 2020. Don't consider any other information. Antignolo will pay Federal Income Tax on: Sales $ 380,000 Cost of goods sold $ Operating expenses $ Interest Expense Dividend income $ 250,000 a. $ b. $ 45,000 85,000 15,000 73,000 $ c. $ d. $ 44,000 28,000 130,000 33,500 Dividends paid $ 10,000 e. $ Net Income $ 33,500
Kim Jin Woo Company reported post-tax profit of P491,400 for the year ended December 31, 2020. Cost of goods sold amounted to P2,108,000 which is P270,000 greater than the net purchases during the year. Operating expenses amounted three times the peso amount of income tax expense. Beginning inventory is three times the amount of ending inventory. Income tax rate is 30%. How much were the total operating expenses during the year 2020? А. Р442,260 B. P552,620 С. Рб31,800 D. P638,100
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