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P13_2 and P13_5_Missing figures

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Problem 13-2;Use your knowledge of income statements to fill in the missing items below.;ASSETS;Cash;$10,000;Accounts receivable;1,00,000;Inventory;C;Total current assets;$2,20,000;Gross P&E;5,00,000;Less accumulated depreciation;Net P&E;$3,75,000;Total assets;LIABILITIES;Accounts payable;$12,000;Notes payable;50,000;Total current liabilities;Long-term debt;Total Liabilities;$1,90,000;EQUITY;Common stock ($1 par, 100,000 shares);Paid-in capital;Retained earnings;1,50,000;Total stockholders? equity;Total liabilities and equity;Problem 13-5;Use your knowledge of income statements to fill in the missing items below.;Sales;COGS;5,75,000;Gross profit;$16,00,000;G&A expense;2,00,000;Sales & Mkting expense;Depreciation;50,000;Operating income;Interest;1,00,000;Income before taxes;Income taxes (30%);Net income;$7,00,000

 

Paper#80638 | Written in 18-Jul-2015

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