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Use the following information for Taco Swell, Inc., (assume the tax rate is 34 percent): 2010...

Use the following information for Taco Swell, Inc., (assume the tax rate is 34 percent): 2010 2011 Sales $ 11,573 $ 12,936 Depreciation 1,661 1,736 Cost of goods sold 3,979 4,707 Other expenses 946 824 Interest 776 926 Cash 6,067 6,466 Accounts receivable 8,034 9,427 Short-term notes payable 1,171 1,147 Long-term debt 20,320 24,636 Net fixed assets 50,888 54,273 Accounts payable 4,384 4,644 Inventory 14,283 15,288 Dividends 1,411 1,618 Prepare a balance sheet of this company for 2010 and 2011. (Be sure to list the accounts in order of their liquidity.) TACO SWELL, INC., Balance Sheet as of Dec. 31 2010 2011 Assets $ 6067 $ 6466 8034 9427 14283 15288 Current assets Total assets $ $ Liabilities $ 4384 $ 4644 1171 1147 Current liabilities Total liabilities & owners' equity $ $ Prepare an income statement for this company for 2010 and 2011. (Round your answers to 2 decimal places. (e.g., 32.16)) TACO SWELL, INC., Income Statement 2010 2011 Sales $ $ COGS Other expenses Depreciation EBIT $ $ Interest EBT Taxes (34%) Net income Dividends $ $ Additions to RE ReferenceseBook & Resources

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jeff jeffy answered 1 year ago
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