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In: Accounting

Build the statement of comprehensive income and statement of financial position based on the information given...

Build the statement of comprehensive income and statement of financial position based on the information given below, as of December 31, 2016. Round numbers to the nearest integer.

Accounts payable

$172,000

Accounts receivable

$195,000

Cash and cash equivalents

$106,000

CoGS

$251,300

Common stock

$1,231,000

Depreciation

$42,000

Dividend payout ratio

40%

Interest paid

$66,600

Inventory

$121,000

Long-term debt

$1,332,000

Net fixed assets

$2,889,000

Sales

$468,000

Short-term debt

$377,000

Tax rate

31%

Number of shares

1,000,000

Price per share

$0.50

Solutions

Expert Solution

As per the given information the statement of comprehensive income and statement of financial position has been prepared as below -

ekkarill92 answered 4 months ago
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