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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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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