Use the following information for Ingersoll, Incorporated. Assume the tax rate is 24 percent. Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2020 2021 $17,573 $16,536 1,781 4,579 1,006 855 1,856 4,827 884 986 6,247 6,826 8,160 9,787 1,290 1,267 20,680 24,936 51,152 54,633 4,576 5,004 14,487 15,408 1,550 1,738 Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.)
Use the following information for Ingersoll, Incorporated. Assume the tax rate is 24 percent. Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2020 2021 $17,573 $16,536 1,781 4,579 1,006 855 1,856 4,827 884 986 6,247 6,826 8,160 9,787 1,290 1,267 20,680 24,936 51,152 54,633 4,576 5,004 14,487 15,408 1,550 1,738 Prepare a balance sheet for this company for 2020 and 2021. (Do not round intermediate calculations.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Raghubhai
Transcribed Image Text:Use the following information for Ingersoll, Incorporated. Assume the tax rate is 24
percent.
Sales
Depreciation
Cost of goods sold
Other expenses
Interest
Cash
Accounts receivable
Short-term notes payable
Long-term debt
Net fixed assets
Accounts payable
Inventory
Dividends
Cash
Accounts receivable
Inventory
Current assets
Assets
Net fixed assets
Total assets
Prepare a balance sheet for this company for 2020 and 2021. (Do not round
intermediate calculations.)
2020 2021
$17,573 $16,536
1,781
4,579
1,006
855
6,247
8,160
1,290
Liabilities & Equity
1,856
4,827
884
986
6,826
9,787
1,267
20,680 24,936
51,152 54,633
4,576
5,004
14,487 15,408
1,550 1,738
INGERSOLL, INCORPORATED
Balance Sheet as of December 31
2020
$
2021
86,654
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