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Use the following information for Ingersoll, Inc. Assume the tax rate is 24 percent. 2018 2019...

Use the following information for Ingersoll, Inc. Assume the tax rate is 24 percent.

2018 2019
Sales $17,573 $16,536
Depreciation 1,781 1,856
Cost of Good Sold 4,579 4,827
Other Expenses 1,006 884
Interest 855 986
Cash 6,247 6,826
Account Receivable 8,160 9,787
Short-term notes payable 1,290 1,267
Long-term debt 20,680 24,936
Net Fixed assets 51,152 54,633
Accounts payable 4,576 5,004
Inventory 14,487 15,408
Dividends 1,550 1,738

Prepare a balance sheet for this company for 2018 and 2019. (Do not round intermediate calculations.)

2018 2019
Assets
[Enter Answer] [Enter Answer] [Enter Answer]
[Enter Answer] [Enter Answer] [Enter Answer]
[Enter Answer] [Enter Answer] [Enter Answer]
[Enter Answer] [Enter Answer] [Enter Answer]
Current Assets
[Enter Answer] [Enter Answer] [Enter Answer]
[Enter Answer] [Enter Answer] [Enter Answer]
Total Assets [Enter Answer] 86,654
Liabilities & Equity
[Enter Answer] [Enter Answer] [Enter Answer]
[Enter Answer] [Enter Answer] [Enter Answer]
[Enter Answer] [Enter Answer] [Enter Answer]
Current Liabilities [Enter Answer] 6,271
[Enter Answer] [Enter Answer] [Enter Answer]
[Enter Answer] [Enter Answer] [Enter Answer]
[Enter Answer] [Enter Answer] [Enter Answer]
Total Liabilities & Owners Equity [Enter Answer] [Enter Answer]

Prepare an income statement for this company for 2018 and 2019. (Enter all answers as positive values. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. )

2018 2019
Sales [Enter Answer] [Enter Answer]
COGS [Enter Answer] [Enter Answer]
Other Expenses [Enter Answer] [Enter Answer]
Depreciation [Enter Answer] [Enter Answer]
EBIT [Enter Answer] [Enter Answer]
Interest [Enter Answer] [Enter Answer]
EBIT [Enter Answer] [Enter Answer]
Taxes [Enter Answer] [Enter Answer]
Net Income [Enter Answer] [Enter Answer]
Dividends [Enter Answer] [Enter Answer]
Additions to RE [Enter Answer] [Enter Answer]

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Expert Solution


jeff jeffy answered 3 years ago
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