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Unformatted text preview: Chapter One Demo Problem The stores owned and franchised by Krispy Kreme Donuts can each make between 4,000 and 10,000 donuts per day. This capacity and the fanatical loyalty of its customers have made this expanding company a great success. Following is a list of the financial statement items and amounts adapted from a recent Krispy Kreme Donuts income statement and balance sheet. The numbers are presented for the year ended January 28, 2001. Accounts payable $ 14,697 Accounts receivable 24,733 Cash 7,026 Contributed capital 85,060 General and administrative expenses 20,061 Income tax expense 9,058 Inventories 12,031 Net income 14,725 Notes payable 3,526 Operating expenses 250,69 Other assets 31,260 Other expenses 6,181 Other liabilities 26,474 Pretax income 23,783 Property and equipment 78,340 Retained earnings 41,736 Sales revenues 300,71 5 Short-term investments 18,103 Total assets 171,49 3...
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This note was uploaded on 11/03/2011 for the course AEM 2210 at Cornell.