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Prepare the balance sheet and income statement

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Reference no: EM13962997

Prepare the 2015 Balance sheet and Income statement for the Hogan's Accessories Inc. using the following information-

Cash $72,000

Accounts receivables $439,000

inventories $894,000

land and buildings $238,000

Machinery $132,000

Other equipment $61,000

Accounts Payable $432,000

Accrued liabilities $170,000

Long term debt $404,290

Common Stock $575,000

Retained earnings $254,710

Sales $4,290,000

Material and Labor 3,580,000

Administrative and Advertising 236,320

Depreciation expense 159,000

Interest Expense $134,000

tax 40%

Number of shares common stock 23,000

Dividend per share $0.95

Reference no: EM13962997

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