Hyrkas Corporations most recent balance sheet and income statement a.docx - Hyrkas Corporation's most recent balance sheet and income statement appear

Hyrkas Corporations most recent balance sheet and income statement a.docx

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Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets $ 340 390 310 Current assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets $ 225 370 340 20 955 1,210 $2,165 1.060 1,340 $2,400 $ 310 50 $ 340 50 40 400 300 Liabilities and stockholders' Equity Current liabilities Accounts payable Accrued liabilities Notes payable, short term Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock, $2 par value Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities & stockholders' equity 430 510 940 700 200 200 330 330 2.465 $ 2.165 $2.400 Income Statement For the Year Ended December 31, Year 2 in thousands of dollars) Sales (all on account) Cost of goods sold Gross margin Selling and administrative expense Net operating income Interest expense Net income before taxes Income taxes (308) Net income $1.570 1.000 570 485
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  • Spring '19
  • Prof. Adnan Hamideh

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