vv-2 - $155,200 PPE $110,000 Total Assets $265,200...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Jackson's 4-WHEELERs Income Statement Year 1 Year 2 Year 3 Revenues $430,000 COGS $270,000 Gross Profit $160,000 Operating Expense $100,000 Bad Debt Expense $21,500 EBIT $38,500 Interest Expense $5,000 EBT $33,500 Income Tax Expense $11,390 Net Income $22,110 Jackson's 4-WHEELERs Balance Sheet Year 1 Year 2 Year 3 Assets Cash $35,000 Accounts Receivable $72,000 Inventories $44,000 Other Current Assets $4,200 Total Current Assets
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: $155,200 PPE $110,000 Total Assets $265,200 Liabilities and Stockholder's Equity Accounts Payable $69,700 Other Current Liabilities $38,000 Total Current Liabilities $107,700 Long-Term Debt $23,000 Other Long-Term Liabilities $15,000 Total Liabilities $145,700 Owner's Equity $75,000 Retained Earnings $44,500 Total Liabilities and Stockholder's Equ $265,200...
View Full Document

Ask a homework question - tutors are online