Question

In: Finance

Trevor’s company accounts’ information for 2018 is as follows: near-cash is $500

Trevor’s company accounts’ information for 2018 is as follows: near-cash is $500,

the amount of money that customers currently owe to the company for goods that were

purchased on credit is $16,000. Inventories are worth $45,500, accumulated depreciation

is 30.2% of total fixed assets. Accounts payable and short-term bank notes are $69,000.

Lands, buildings and equipment were valued $126,000. 10-Year Debt is $22,950, common

stock is $31,500 and retained earnings is $26,498. Gross profit is $64,000. Fixed cash

operating expenses, variable operating expenses and depreciation are $21,000, $16,000

and $10,000 respectively. Interest expenses are $6,100 and tax percentage is 50%.

Answer:

(a) Construct the balance-sheet statement for this company.

(b) Construct the income statement for this company.

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Expert Solution

jeff jeffy answered 2 years ago
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