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Complete the yellow highlighted cells on the balance sheet

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Reference no: EM13574980

Complete the yellow highlighted cells on the balance sheet and income statement.

Following is the additional information that you will need to complete the statements:

2004

2003

Accounts Receivable

$1,200,000

$1,000,000

Allowance for Doubtful Accounts

35,000

50,000

Income Tax Expense

100,000

120,000

Enter question here...

Fill in this excel sheet

Blue Bill Corporation
Income Statement
For the year ended 20xx

2004 2003
Net sales $4,250,000 $5,175,000
Cost of goods sold $2,220,000 $2,605,000
Gross Profit

Operating Expenses $650,000 $720,000
Other Expenses $120,000 $115,000
Earnings Before Interest and Taxes (EBIT)

Net interest expenses $0 $15,000
Income Tax Expense

Net Earnings

Earnings per share(1,250 shares issued)







Blue Bill Corporation
Balance Sheet
December 31, 20xx

2004 2003
Current assets

Cash and cash equivalents $500,000 $450,000
Accounts receivable

Less: Doubtful accounts

Inventory $2,912,000 $1,980,000
Other current assets $45,000 $50,000
Total current assets

Net property, plant, and equipment $250,000 $200,000
Other assets $16,000 $15,000
Total assets




Current liabilites

Accounts payable $1,000,000 $900,000
Other current liabilities $35,000 $22,000
Long-term debt $900,000 $930,000
Equity
$1,793,000
Total liabilities and equity







Reference no: EM13574980

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