Homework Answers
| Answer | ||
| Income statement | ||
| 2018 | 2019 | |
| Sales | $ 15,573 | $ 15,336 |
| COGS | $ 4,379 | $ 4,787 |
| other expenses | $ 986 | $ 864 |
| Depreciation | $ 1,741 | $ 1,816 |
| EBIT | $ 8,467 | $ 7,869 |
| Interest | $ 835 | $ 966 |
| EBT | $ 7,632 | $ 6,903 |
| Taxes | $ 1,832 | $ 1,657 |
| Net Income | $ 5,800 | $ 5,246 |
| Dividends | $ 1,350 | $ 1,698 |
| Additions to RE | $ 4,450 | $ 3,548 |
| Balance sheet | ||
| Assets | 2018 | 2019 |
| Cash | $ 6,187 | $ 6,709 |
| Accounts receivable | $ 8,120 | $ 9,667 |
| Inventory | $ 14,419 | $ 15,368 |
| Current assets | $ 28,726 | $ 31,744 |
| Net Fixed assets | $ 51,064 | $ 54,513 |
| Total assets | $ 79,790 | $ 86,257 |
| Accounts payable | $ 4,512 | $ 4,884 |
| Short term notes payable | $ 1,250 | $ 1,227 |
| Current liabilities | $ 5,762 | $ 6,111 |
| Long term debt | $ 20,560 | $ 24,836 |
| Owners equity | $ 53,468 | $ 55,310 |
| Total liabilities and shareholders equity | $ 79,790 | $ 86,257 |
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Use the following information for Ingersoll, Inc. Assume the tax rate is 24 percent. 2018 Sales...
Use the following information for Ingersoll, Inc. Assume the tax rate is 21 percent. Sales Depreciation...
Use the following information for Ingersoll, Inc. Assume the tax rate is 21 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 2018 2019 $ 18,073 $ 16,836 1,791 1,866 4,629 4,837 1,011 889 860 991 6,262 6,856 8,170 9,817 1,300 1,277 20,710 24.961 51,174 54,663 4,592 5,034 14,504 15,418 1,600 1,748 Prepare a balance sheet for this company for 2018 and 2019. (Do...
Use the following information for Ingersoll, Inc. Assume the tax rate is 21 percent. Sales Depreciation...
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Use the following information for Ingersoll, Inc. Assume the tax rate is 21 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 2018 2019 $18,073 $ 16,836 1,791 1,866 4,629 4,837 1,011 889 860 991 6,262 6,856 8,170 9,817 1,300 1,277 20,710 24,961 51,174 54,663 4,592 5,034 14,504 15,418 1,600 1,748 Prepare a balance sheet for this company for 2018 and 2019. (Do not...
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