3 questions

LO 1.        1.   Building a Balance Sheet. Kroeger, Inc., has current assets of $1,970, net fixed assets of $9,650, current liabilities of $1,520, and long-term debt of $4,370. What is the value of the shareholders’ equity account for this firm? How much is net working capital?

 

LO 22.Building an Income Statement. Draiman, Inc., has sales of $795,000, costs of $345,000, depreciation expense of $76,000, interest expense of $41,000, and a tax rate of 35 percent. What is the net income for this firm?

 

LO 23.Dividends and Retained Earnings. Suppose the firm in Problem 2 paid out $56,000 in cash dividends. What is the addition to retained earnings?