Create a balance sheet and income statement using the following information: WIth proper financial statement formatting Any...

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Accounting

Create a balance sheet and income statement using the followinginformation: WIth proper financial statement formatting
Any missing information, please fill in.
Total Shareholder Equity
Long Term Debt: 3,650,000
Inventories: 350,000
Income Taxes: 85,000
Total Non-Operating Expenses, Net
Common stock: 100,000
Total Assets
Retained Earnings: 3,000,000
Cost of Goods Sold: 2,000,000
Interest Income: 20,000
Accounts Receivable: 1,500,000
General and Administrative Costs: 1,000,000
Accruals: 800,000
Preferred Stock
Net Earnings
Goodwill & Other Intangibles: 1,800,000
Net Revenue: 4,500,000
Earnings Before Income Taxes
Total Liabilities
Interest Expense: 90,000
Cash: 5,000,000
Total Operating Expenses
Treasuring stock: (3,500,000)
Total Liabilities and Shareholder's Equity
Depreciation and Amortization: 100,000
Net, Property, Plant, and Equipment: 300,000
Operating Profit
Additional Paid-in Capital: 2,000,000
Marketing and Advertising: 1,000,000
Prepaid Expenses: 310,000
Total Current Liabilities
Gross Profit
Accounts Payable: 300,000
total current assets

Answer & Explanation Solved by verified expert

4.2 Ratings (643 Votes)

Income Statement for the year ended Description Amount Amount Gross Revenue 5000000 Less Sales Return 500000 Net Revenue 4500000 Cost of Goods Sold 2000000 Gross Profit 2500000 Less Opreating Expenses General and Administrative Cost 1000000 Marketing and Advertising 1000000 Depriciation and Amortization 100000 Total Operating Expenses See Answer

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