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    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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    Solution Summary

    The expert fills in income statement and balance sheets from the missing information.