Income Statement/balance sheet missing information
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For the following income statement and balance sheet, fill in the missing information for the calendar year ending December 31.
Sales ($) __________
COGS 200,000
Gross Profit __________
Expenses 300,000
EBIT ___________
Interest Expense 10,000
EBT ___________
Tax Expense(40%) 36,000
Net Income ___________
Retained Earnings
(Jan 1) 150,000
Dividends Paid 25,000
All assets, liabilities, and equity items are as of the end of the year.
Current Assets $150,000
Non-current Assets ____________
Total Assets ____________
Current Liabilities $ 75,000
Long-term Liabilities ____________
Total Liabilities $ 171,000_____
CS and Capital in excess of par $ 300,000
Retained Earnings ____________
Total Stockholders' Equity ____________
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The expert fills in income statement and balance sheets from the missing information.
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