Question

Answer Q: Use the balance sheets and information provided about revenue and expenses to answer the question. Save your answ 20,000 36,000 9,000 65,000 Nippon Technology Balance Sheet As of December 31, 2019 (amounts in thousands) Cash 137,000 Accounts Payable Accounts Receivable 32,000 Debt Inventory 51,000 Other Liabilities Property Plant 227,000 Total & Equipment, Liabilities Gross Accumulated 73,000 Paid-In Capital Depreciation Property Plant & 154,000 Retained Equipment, Net Earnings Other Assets 8,000 Total Equity Total Assets 382,000 Total Liabilities & Equity 72,000 245,000 317,000 382,000 28,000 Nippon Technology Balance Sheet As of March 31, 2020 (amounts in thousands) Cash 140,000 Accounts Payable Accounts Receivable 26,000 Debt Inventory 56,000 Other Liabilities Property Plant 227,000 Total & Equipment Liabilities Gross Accumulated 73,800 Paid-In Capital Depreciation Property Plant & 153,200 Retained Equipment, Net Earnings Other Assets 12,000 Total Equity Total Assets 387,200 Total Liabilities & 32,000 8,670 68,670 72,000 246,530 318,530 387,200 20

Answer 1

Nippon Technology
Income Statement
Sales Revenue		$7,900,000
Cost of goods sold		$3,160,000
Gross Profit		$4,740,000
Expenses:
Depreciation expenses	$800,000
Interest expenses	$80,000
Other epenses	$600,000
SG&A	$790,000
Total expenses		$2,270,000
Net Income before taxes		$2,470,000
Less:Taxes @34%		$839,800
Net Income		$1,630,200