Question

In: Accounting

Draw up an income statement and a balance sheet for NearPerfect for 2009 and 2010. The tax rate is 34%.

After-class Task #1

Financial Statements

Use the information for NearPerfect Co. to work the problems.

                                       2009               2010

Sales                          $1,145            $1,200

Depreciation                   128                 128

Cost of goods sold        450                 537

Other expenses             110                    98

Interest                              85                    96

Cash                                640                 735

Receivables                    912                 967

Notes payable                122                 103

Long-term debt           2,349              2,666

Net fixed assets          5,556              5,637

Accounts payable          664                 659

Dividends                        100                 110

Inventory                      1,440              1,489

  1. Draw up an income statement and a balance sheet for NearPerfect for 2009 and 2010. The tax rate is 34%.
  1. For 2010, calculate NearPerfect’s cash flow from assets, cash flow to bondholders, and cash flow to stockholders.

Solutions

Expert Solution

ekkarill92 answered 2 years ago
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