Needs to be in excel and labled so I can follow what you did and also know which question is which.
Minoso CorporationIncome Statement for December 31, 2013
(Thousands of Dollars)
_________________________________
Sales $15,000
Operating expenses -13,000
EBIT 2,000
Interest 400EBT 1,600
Taxes (40%) 640
Net income 960
Cash dividends (40%) 384
Added retained earnings $576
Balance Sheet as of December 31, 2013
(Thousands of Dollars)
______________________________________________________________________________
Cash $ 1,000 Accounts payable $ 1,600
Accounts receivable 2,000 Bank Loan 1,800
Inventories 2,200 Accrued liabilities 1,200
Total current assets 5,200 Total current liabilities 4,600
Long-term debt 2,200
Fixed assets, net 6,800 Common stock 2,400
Total assets $12,000 Retained earnings 2,800
Total liabilities & equity $12,000 ______________________________________________________________________________
