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Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent): 2014 2015 Sales $ 8,035 $ 8,609 Depreciation 1,145 1,146 Cost of goods sold 2,716 3,080 Other expenses 659 554 Interest 545 623 Cash 4,129 5,223 Accounts receivable 5,459 6,147 Short-term notes payable 814 766 Long-term debt 13,680 16,250 Net fixed assets 34,655 35,517 Accounts payable 4,356 4,205 Inventory 9,690 9,958 Dividends 976 1,071.

Prepare an income statement for this company for 2014 and 2015 and Prepare the balance sheet for this company for 2014 and 2015

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91791808

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