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Use the following information for Ingersoll, Incorporated. Assume the tax rate is 24 percent. Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2020 2021 $17,573 $16,536 1,781 4,579 1,006 855 1,856 4,827 884 986 6,247 6,826 8,160 9,787 1,290 1,267 20,680 24,936 51,152 54,633 4,576 5,004 14,487 15,408 1,550 1,738 Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.)

Use the following information for Ingersoll, Incorporated. Assume the tax rate is 24 percent. Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2020 2021 $17,573 $16,536 1,781 4,579 1,006 855 1,856 4,827 884 986 6,247 6,826 8,160 9,787 1,290 1,267 20,680 24,936 51,152 54,633 4,576 5,004 14,487 15,408 1,550 1,738 Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.)

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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Use the following information for Ingersoll, Incorporated. Assume the tax rate is 24 percent. Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends Cash Accounts receivable Inventory Current assets Assets Net fixed assets Total assets Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.) 2020 2021 $17,573 $16,536 1,781 4,579 1,006 855 6,247 8,160 1,290 Liabilities & Equity 1,856 4,827 884 986 6,826 9,787 1,267 20,680 24,936 51,152 54,633 4,576 5,004 14,487 15,408 1,550 1,738 INGERSOLL, INCORPORATED Balance Sheet as of December 31 2020 $ 2021 86,654
Transcribed Image Text:Use the following information for Ingersoll, Incorporated. Assume the tax rate is 24 percent. Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends Cash Accounts receivable Inventory Current assets Assets Net fixed assets Total assets Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.) 2020 2021 $17,573 $16,536 1,781 4,579 1,006 855 6,247 8,160 1,290 Liabilities & Equity 1,856 4,827 884 986 6,826 9,787 1,267 20,680 24,936 51,152 54,633 4,576 5,004 14,487 15,408 1,550 1,738 INGERSOLL, INCORPORATED Balance Sheet as of December 31 2020 $ 2021 86,654
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