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Use the following information for Taco Swell, Inc., (assume the tax rate is 22 percent):   ...

Use the following information for Taco Swell, Inc., (assume the tax rate is 22 percent):

  

2017 2018
  Sales $ 18,573 $ 17,136
  Depreciation 1,801 1,876
  Cost of goods sold 4,679 4,847
  Other expenses 1,016 894
  Interest 865 996
  Cash 6,277 6,886
  Accounts receivable 8,180 9,847
  Short-term notes payable 1,310 1,287
  Long-term debt 20,740 24,986
  Net fixed assets 51,196 54,693
  Accounts payable 4,608 5,064
  Inventory 14,521 15,428
  Dividends 1,650 1,758

  

Prepare a balance sheet for this company for 2017 and 2018. (Do not round intermediate calculations.)

Prepare an income statement for this company for 2017 and 2018. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16. Input all answers as positive values.)

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Expert Solution

jeff jeffy answered 1 year ago
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