Using the data presented below:
Big Rock Candy Mountain Mining Co.
Income Statements
For the Years 2019 and 2020
able[[,2020,],[Sales,$412,500,$398,600,,],[Cost of Goods,318,786,315,300,,],[Gross Profit,93,714,83,300,,],[Depreciation,29,800,29,652,,],[Selling & Admin. Expense,26,250,24,550,,],[Other Operating Expense,1,210,1,245,,],[Net Operating Income,36,454,27,853,,],[Interest Expense,8,582,8,457,,],[, Earnings Before Taxes,27,872,19,396,,],[Taxes,6,968,4,849,,],[Net Income,20,904,14,547,,],[Notes:,,,,],[Tax Rate,25.00%,25.00%,,],[Shares,52,100,52,100,,],[Earnings per Share,$0.40,$0.28,,],[,,,,]]
Big Rock Candy Mountain Mining Co.
Balance Sheet
For the Year Ended December 31, 2020
able[[,2020,2019],[Assets],[Cash,$16,435,$11,596
1.Using the data presented below
Big Rock Candy Mountain Mining Co. Income Statements For the Years 2019 and 2020 2020 Sales 2019 $412,500 Cost of Goods $398,600 318,786 Gross Profit 315,300 93,714 Depreciation 83,300 29,800 Selling& Admin.Expense 29,652 26,250 Other Operating Expense 24,550 1,210 Net Operating Income 1,245 36,454 Interest Expense 27,853 8,582 Earnings Before Taxes 8,457 27,872 Taxes 19,396 6,968 Net Income 4,849 20,904 14,547 Notes: Tax Rate 25.00% Shares 25.00% 52,100 52,100 Earnings per Share $0.40 $0.28
Big Rock Candy Mountain Mining Co. Balance Sheet For the Year Ended December 31,2020 2020
2019
Assets Cash Marketable Securities Accounts Receivable Inventory Total Current Assets Gross Fixed Assets Accumulated Depreciation Net Plant &Equipment Total Assets Liabilities & Owner's Equity Accounts Payable Accrued Expenses Total Current Liabilities Long-term Debt Total Liabilities Common Stock ($1.00 par Additional Paid-in-Capital Retained Earnings Total Owner's Equiry Total Liab.& Owner's Equity
$16,435 3,656 45,896 52,397 118,384 436,573 87,450 349,123 467,507
$11,596 619 47,404 54,599 114,218 397,023 57,650 339.373 453,591
$37,752 3,183 40,935 170,562 211,497 58,664 136,807 60,539 256,010 467.507
$36,819 3,085 39,904 178.581 218,485 58,664 136,807 39,635 235.106 453,591