Reference no: EM132949698

Question - Need assistance making an Income Statement and Balance Sheet for ABC Co. based on the following items:

Revenue $100,000,000

Cost of Sales $40,000,000

General and Administrative Expenses $20,000,000

Selling Expenses $10,000,000

Depreciation $5,000,000

Interest Expense $3,000,000

Taxes $5,000,000

Dividends $7,000,000

Cash $40,000,000

Inventory $30,000,000

Trade Receivables $20,000,000

Gross Fixed Assets $500,000,000

Accumulated Depreciation $200,000,000

Trade Payables $20,000,000

Note Payables $20,000,000

Accrued Charges $15,000,000

Long-term debt $150,000,000

Common Shares $100,000,000

Retained earnings at the beginning of the period $75,000,000