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Question - Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hint. Not all information given is needed for the solution.
Finished goods inventory, ending $17,100
General and administrative expenses 15,100
Accounts receivable 19,100
Finished goods inventory, beginning 20,100
Cost of goods manufactured 41,100
Selling expenses 13,100
Cash 56,100
Land 29,100
Sales 94,200
Equipment 2,100
Consulting fees are credited to revenue when received. At June 30, consulting fees of $1,100 are unearned.
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At the end of year 5, you will sell the shopping center for $18,000,000 after taxes. Calculate the total project cash flows for the project
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