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files (2)AssignmentWeek1-BUSN604B006Spring2025-APEI.pdf
BUSN604Week1Assignment2025SmithAntoineWeek1.xlsx
AssignmentWeek1-BUSN604B006Spring2025-APEI.pdf
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BUSN604Week1Assignment2025SmithAntoineWeek1.xlsx
Balance Sheet
| You learned about Balance Sheets this week. Fill in the missing items below. | |||||||
| Enter the answers in blue shaded cells | |||||||
| ASSETS | LIABILITIES | ||||||
| Cash | $10,000 | Accounts payable | $12,000 | ||||
| Accounts receivable | 100,000 | Notes payable | 50,000 | ||||
| Inventory | #1 | Total current liabilities | #4 | ||||
| Total current assets | $220,000 | Long-term debt | #5 | ||||
| Gross PP&E | 500,000 | Total Liabilities | $190,000 | ||||
| Less accumulated depreciation | #2 | ||||||
| Net PP&E | $375,000 | EQUITY | |||||
| Total Assets | #3 | Common stock ($1 par; 100,000 shares) | 100,000 | ||||
| Paid-in capital | #6 | ||||||
| Retained earnings | 150,000 | ||||||
| Total stockholders’ equity | #7 | ||||||
| Total Liabilities and Equity | #8 | ||||||
| Reminder: A=L+E |
Income Statement
| You learned about Income Statements this week. Fill in the missing items below. | ||||
| Enter the answers in blue shaded cells | ||||
| Sales | #9 | |||
| COGS | 575,000 | |||
| Gross profit | $1,600,000 | |||
| G&A expense | 200,000 | |||
| Sales & Mkting expense | #10 | |||
| Depreciation | 50,000 | |||
| Operating income | #11 | |||
| Interest | 100,000 | |||
| Income before taxes | #12 | |||
| Income taxes (30%) | #13 | |||
| Net income | $700,000 | |||
| Steps: | ||||
| 1: Calculate Sales | ||||
| 2. Calculate Income before taxes. Taxes are 30%, so you know the Net Income (Y) is a percent of "Income before taxes" (X) | ||||
| 3. Calculate the Income taxes figure | ||||
| 4. Calculate Operating Income | ||||
| 5. Calculate Sales & Mkting Exp |
