Answer.
Income Statement | ||
For the Month Ended Dec.31, 2018 | ||
Total Sales | $ 15,800,000 | |
Less: Cost of Goods Sold | $ 14,742,000 | |
Gross Profit | $ 1,058,000 | |
Less: Operating Expense: | ||
Labor expense | $ 3,500 | |
Other expense | $ 4,000 | |
Utilities Expense | $ 2,500 | |
Selling,General and Administrative expense | $ 538,000 | |
Total Operating Expense | $ 548,000 | |
Earning Before Interest and Tax | $ 510,000 | |
Less: Interest Expense | $ 87,000 | |
Earning Before Tax | $ 423,000 | |
Less: Income Tax Expense | $ 96,000 | |
Net Income | $ 327,000 | |
Balance Sheet | ||
For the Month Ended Dec.31, 2018 | ||
Assets | ||
A) Current Assets: | ||
Cash | $ 915,000 | |
Account Receivable | $ 4,231,000 | |
Inventory | $ 8,483,000 | |
Other Current Assets | $ 5,579,000 | |
Total Current Assets | $ 19,208,000 | |
B) Non Current Assets: | ||
Long Term Investment | $ 5,319,000 | |
Other Non Current Assets | $ 930,000 | |
Property Plant and Equipment | $ 9,885,000 | |
Long Term Intangible Assets | $ 4,065,000 | |
Total Non Current Assets | $ 20,199,000 | |
Total Assets | $ 39,407,000 | |
Liabilities and Equity | ||
A) Liabilities | ||
a) Current Liabilities: | ||
Account Payable | $ 3,082,000 | |
Current Portion of Long term Debt | $ 590,000 | |
Other Current Liabilities | $ 5,982,000 | |
Total Current Liabilities | $ 9,654,000 | |
b) Non Current Liabilities: | ||
Long term Liabilities | $ 6,730,000 | |
Other Long term Liabilities | $ 2,240,000 | |
Total Non Current Liabilities | $ 8,970,000 | |
Total Liabilities | $ 18,624,000 | |
B) Equity | $ 20,783,000 | |
Liabilities and Equity | $ 39,407,000 | |
* Equity = Assets - Total Liabilities |
Below is a random list of items that belong on either an agribusinesses balance sheet or...
Below is a random list of items that belong on either an agribusinesses balance sheet or income statement. Using this information, construct a balance sheet dated December 31, 2018 and an income statement from January 1, 2018 to December 31, 2018. NOTE: You need to create both a balance sheet and income statement from everything below that is formatted so that a manager can easily read the information. Every item will only be used once. I would first figure out...
$4000 “others” is an expense below is a random list of items that belong on either an agribusinesses balance sheet on" usinesses balance sheet or income statement. Using this information, construct a balance sheet dated December statement from January 1, 2018 to December 31, 2018. NOTE: You need to create bo ct a balance sheet dated December 31, 2018 and an income and income statement from everything below that is formatted so that a manager cember 31, 2018. NOTE: You...
Below is an random list of items that belong on either an agribusinesses balance sheet or income statement. Using this information, construct a balance sheet dated December 31, 2018 and an income statement from January 1, 2018 to December 31, 2018. Itemsthat have no value beside them indicate that you are to calculate the value based on the other numbers you have. NOTE: You need to create both a balance sheet and income statement from everything below that is formatted...
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