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Prepare a Income Statement and Balance Sheet

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Question - Based on the following information of Shelly and Co. prepare a Income Statement for 2000 and Balance Sheet for 1999 & 2000. Use the tax rate of 35%.

1999 2000

Amt. in $ Amt. in $

Sales 3,790 3,990

Cost of Goods Sold 2,043 2,137

Depreciation 975 1,108

Interest 225 267

Dividends 200 225

Current Assets 2,140 2,346

Net Fixed Assets 6,770 7,087

Current Liabilities 994 1,126

Long Term Debt 2,869 2,958

Reference no: EM132747665

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