Explore BrainMass
Share

Balance Sheet and Income Statement Information

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Contrast the information provided in the balance sheet and income statement.

APA FORMAT 250 WORDS

© BrainMass Inc. brainmass.com October 25, 2018, 8:50 am ad1c9bdddf
https://brainmass.com/business/finance/balance-sheet-and-income-statement-information-553894

Solution Preview

The information provided in the income statement gives financial statement users a portrayal of the company's financial health from a revenue standpoint. The income statement shows the company's gross revenue, cost of goods sold, and total net revenue. The total net revenue is calculated after allowance adjustments. The expenses are then listed, and are typically listed as operating expenses being first, followed by general ...

Solution Summary

This solution contrasts information provided in the balance sheet with information from the income statement.

$2.19
See Also This Related BrainMass Solution

Finance 201 Problem

(See attached file for full problem description)

---
Current Ratio 1.09 1.41
Quick Ratio 0.60 1.00
Total Debt Ratio 48.00% 77.80%
TIE 6.20 3.20
BEP N/A N/A
FATO N/A N/A

You have been given the following information. Complete a Balance Sheet and Income Statement for 2005. All figures are in millions. Also briefly explain in one paragraph what you learned after solving about this country?

Sales will be $3,000 for the year. Accounts Receivable will be 10% of sales. Selling General and Administrative Expense will be $500 for the year, and COGS will be 67% of sales. The company has $750 in long-term debt, and pays 8% interest on this debt. It has a 35% combined tax rate, and depreciation expense of $130. 2004's accumulated depreciation was $780, and gross fixed assets were $2100. Inventory was $550, and total liabilities and stockholders equity were $2,390. NOWC totaled $548, with 50% of current liabilities in Accruals and 50% in A/P. Last year, Retained Earnings totaled $440. The company has only common stock, no preferred.

View Full Posting Details