Q2: Prepare an income statement and a balance sheet from the following scrambled list of...
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Q2: Prepare an income statement and a balance sheet from the following scrambled list of items. What is the firms net working capital and debt ratio ? Sales 550000 Income taxes 59850 190000 inventories 47000 Accumulated depreciation cash ????? Administrative 45000 expenses Cost of goods 320000 Gross fixed assets 648000 sold 73000 Long term debt 360000 Account receivable 38000 Common stock 120000 Depreciation expense Account payable 65000 Other assets 15000 Interest expense 26000 Retained earning 138500 Short term notes 29000 payable In addition, the firm has 10000 shares outstanding and paid $15000 in common stock dividends during the year
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