Given the following information, prepare, in good form,
an income statement for the Dental Drilling Company as of December 31, 2003
Selling and administrative expense $ 60,000
Depreciation expense 70,000
Sales 470,000
Interest expense 40,000
Cost of goods sold 140,000
Taxes 45,000
3 Database Systems is considering expansion into a new
product line Assets to support expansion will cost $500,000 It is estimated
that Database can generate $1,200,000 in annual sales, with a 6 percent profit
margin What would net income and return on assets (investment) be for the
year?
4 For ABC Corporation as of December 31, 2002 prepare a
Balance Sheet in proper order based on the following information
Arrange the following items in proper balance sheet
presentation
Accumulated depreciation $300,000
Retained earnings 96,000
Cash 10,000
Bonds payable 136,000
Accounts receivable 48,000
Plant and equipment?original cost 680,000
Accounts payable 35,000
Allowance for bad debts 6,000
Common stock $1 par, 100,000 shares outstanding 100,000
Inventory 66,000
Preferred stock, $50 par, 1,000 shares outstanding 50,000
Marketable securities 20,000
Investments 20,000
Notes payable 33,000
Capital paid in excess of par (common stock) 88,000