Income stmt, balance sheet


Question Description:

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1. Build the Income Statement and Balance Sheet for CanDo Inc. based on the information given below, as of December 31, 2009. Accounts payable $141,000 Accounts receivable $103,000 Cash and cash equivalents $154,000 CoGS $224,700 Common Stock $1,286,000 Depreciation $37,000 Dividend payout ratio 40% Interest paid $43,000 Inventory $129,000 Long-term debt $1,254,000 Net Fixed Assets $2,530,000 Sales $330,000 Short-term debt $132,000 Tax rate 35% Number of shares 1,000,000 Price per share $0.50

Answer

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