CH2 - 1. Arredondo Inc Balance Sheet September 3, 2011...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 1. Arredondo Inc Balance Sheet September 3, 2011 Assets: Current Assets.............$2,170 Fixed Assets..................9,300 Total Assets...............$11,470 Liabilities & Owners Equity: Current Liabilities...................$1,350 Long Term Debt........................3,980 Owners Equity..................................? Total Liabilities & Equity......$11,470 Shareholders equity = Assets Liabilities Shareholders equity = $11,470 ($1,350 + $3,980) Shareholders equity = $11,470 $5330 Shareholders equity = $6,140 Net Working Capital = Current Assets Current Liabilities Net Working Capital = $2,170 - $1,350 Net Working Capital = $820 2. Lifeline Inc Income Statement Year End December 31, 2011 Sales: ..............................................................................................$585,000 Cost of goods sold.............................................................................273,000 Depreciation........................................................................................71,000 Earnings before interest and taxes..................................................$241,000 Interest paid.........................................................................................38,000 Taxable income...............................................................................$203,000 Taxes ($203,000 * .35)........................................................................71,050Taxes ($203,000 * ....
View Full Document

This note was uploaded on 01/23/2012 for the course MGT 111 taught by Professor Unknown during the Spring '11 term at Washington State University .

Page1 / 3

CH2 - 1. Arredondo Inc Balance Sheet September 3, 2011...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online