Question

(Click on the following icon in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending 2017 Sales revenue $349,900 Cost of goods sold $141,900 Fixed costs $42,900 Selling, general, and administrative expenses $27,900 Depreciation $46,100 W (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $15,900 Notes payable Accounts receivable $28,000 Accounts payable Inventories $48,200 Long-term debt Fixed assets $368,200 OWNERS' EQUITY Accumulated depreciation (-) $143,100 Retained earnings Intangible assets $81,800 Common stock $13,900 $18,800 $190,000 $44,400 $131,900 Print Done

the net fixed assets for the year 2016 is?

the net fixed assets for year 2017 is?

Answer 1

Balance Sheets from the Given Information ASSETS Cash Accounts Receivables Inventories Total Current Assets $ $ $ $ Balance Sheet 2016 LIABILITIES 15,900 Notes Payables 28,000 Accounts Payables 48,200 Long-Term Debt 92,100 Total Liabilities $ 13,900 $ 18,800 $ 190,000 $ 222,700 Property, Plant and Equipment Fixed Assets Less : Accumulated Depreciation Net Fixed Assets Intangible Assets Total Property, plant and Equipment OWNERS' EQUITY $ 368,200 Retained Earnings $ (143,100) Common Stock $ 225,100 Total Owners' Equity $ 81,800 $ 306,900 $ 44,400 $ 131,900 $ 176,300 Total Assets $ 399,000 Total Liabilities and Owners' Equity $ 399,000 ASSETS Cash Accounts Receivables Inventories Total Current Assets $ $ $ $ Balance Sheet 2017 LIABILITIES 26,100 Notes Payables 18,900 Accounts Payables 53,100 Long-Term Debt 98,100 Total Liabilities $ 12,200 $ 23,900 $ 162,100 $ 198,200 Property, Plant and Equipment Fixed Assets Less : Accumulated Depreciation Net Fixed Assets Intangible Assets Total Property, Plant and Equipment OWNERS' EQUITY $ 447,800 Retained Earnings $ (189,200) Common Stock $ 258,600 Total Owners' Equity $ 82,100 $ 340,700 $ 58,700 $ 181,900 $ 240,600 Total Assets $ 438,800 Total Liabilities and Owners' Equity $ 438,800

Conclusion The Net Fixed Assets for the Year 2016 is The Net Fixed Assets for the Year 2017 is $ 225,100 $ 258,600 Conclusion (If Intangible Assets included in Fixed Assets) The Net Fixed Assets for the Year 2016 is $ 306,900 The Net Fixed Assets for the Year 2017 is $ 340,700