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Use the following information for Taco Swell, Inc., (assume the tax rate is 22 percent):   ...

Use the following information for Taco Swell, Inc., (assume the tax rate is 22 percent):

  

2017

2018

  Sales

$

14,573

$

14,736

  Depreciation

1,721

1,796

  Cost of goods sold

4,279

4,767

  Other expenses

976

854

  Interest

825

956

  Cash

6,157

6,646

  Accounts receivable

8,100

9,607

  Short-term notes payable

1,230

1,207

  Long-term debt

20,500

24,786

  Net fixed assets

51,020

54,453

  Accounts payable

4,480

4,824

  Inventory

14,385

15,348

  Dividends

1,250

1,678

  

Prepare a balance sheet for this company for 2017 and 2018. (Do not round intermediate calculations.)

TACO SWELL, INC.

Balance Sheet as of Dec. 31

2017

2018

Assets

Current assets

Total assets

$86,054

Liabilities & Equity

Current liabilities

$6,031

Total liabilities & owners' equity

Prepare an income statement for this company for 2017 and 2018. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16. Input all answers as positive values.)

TACO SWELL, INC.

Income Statement

2017

2018

Sales

COGS

Other expenses

Depreciation

EBIT

Interest

EBT

Taxes

Net income

Dividends

Additions to RE
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Answer #1

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Home nert Page Layout Formulas Data Review View dd-Ins Σ AutoSum Wrap Text General copy ▼ チFormat Painter B l U. ㄧ˙ タ.Δ. -=- 還便困Merge & Center. $,%,,Ma conditional Format Cell Insert Delete Format Paste Sort &Find & 2 ClearFe Select Editing Clipboard BE173 BA Font Styles Formula Bar BF BG BI 30 BALANCESHEET ASSETS CURRENT ASSETS CASH ACCOUNTS RECEIVABLE INVENTORY TOTAL CURRENT ASSETS 156 157 158 159 160 161 162 163 164 165 166 167 2017 2018 LIABILITIES 017 2018 CURRENT LIABILITIES 6157.00 8100.00 14385.00 28642.00 6646.00 ACCOUNTS PAYABLE 9607.00 SHORT TERM NOTES 4480.00 4824.00 1230.001207.00 5710.00 6031.00 20500.00 24786.00 26210.00 30817.00 15348.00 TOTAL CURRENT LIABILITIES 31601.00 LONG TERM DEBT TOTAL LIABILITIES FIXED ASSETS FIXED ASSETS (GROSS) LESS: ACCUMULATED DEPRECIATION NET FIXED ASSETS 52741.00 1721.00 51020.00 56249.00 1796.00 TOTAL OWNERS EQUITY 54453.00 53452.00 55237.00 TOTAL LIABILITIES TOTAL ASSETS 79662.00 86054.00 AND OWNERS EQUITY 79662.00 86054.00 169 170 NOTE TOTAL OWNERS EQUITY TOTAL ASSETS TOTAL LIABILITIES 79662-26210 = 2017 = 53452 172 173 4 FIFO CASH BUDGET bud 04:29

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