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Homework answers / question archive / Use the information below for an Income Statement and Balance Sheet for 2011 & 2012

Use the information below for an Income Statement and Balance Sheet for 2011 & 2012

Finance

Use the information below for an Income Statement and Balance Sheet for 2011 & 2012. Also include a 40% tax rate expense on your pretax income.

2011

2012

Sales

$4,203

$4,507

Cost of Goods Sold

2,422

2,633

Depreciation

785

952

Interest

180

196

Dividends

225

250

Current Assets

2,205

2,429

Net fixed Assets

7,344

7,650

Current Liabilities

1,003

1,255

Long-Term debt

3,106

2,085

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Income Statement    
Particular 2011 2012
Sales 4203 4507
COGS -2422 -2633
Gross Profit 1781 1874
Depreciation -785 -952
EBIT 996 922
Interest -180 -196
Taxable Income 816 726
Taxation (40%) -326 -290
Net income 490 436
Common Dividend 225 250
Additions to RE 265 186

 

 

 

Balance Sheet:          
Assets 2011 2012 Liabilities 2011 2012
Current Assets 2205 2429 Current Liabilities 1003 1255
Net Fixed Assets 7344 7650 Long-Term Debt 3106 2085
      Total Owner's Equity (Bal. Fig) 5440 6739
Total Assets 9549 10079 Total Liabilities and Owner's Equity 9549 10079

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