The approximately recent three years balance wheel sheets and income statements are reproduced downstairs: Ian Manufacturing participation Balance sheets June 30, course of instruction 5, year 4 and year 3 course of study 5 division 4 stratum 3 Assets money$12,000 $15,000 $16,000 Accounts receivable net183,00080,00060,000 origin142,00097,00052,000 Other ongoing pluss5,0006,0004,000 Plant and Equ ipment, net160,000110,00070,000 Total asset$502,000 $308,000 $202,000 Liabilities and Equity$147,800 $50,400 $22,000 Accounts due30,00014,40028,000 Federal income tax payable120,00073,00022,400 Common stock,$5 Par value110,000110,00080,000 Retained earning94,20060,20049,600 Total Liabilities and Equity$502,000 $308,000 $202,000 IAN Manufacturing Company Condensed Income Statement For years terminate June 30, Year 5, Year 4, Year 4 Year 5Year 4Year 3 web sales $1,684,000 $1,250,000 1,050,000 Cost of Goods interchange(927,000)(810,000)(512,000) Gross profit757,000440,000538,000 trade and administrative costs(670,000)(396,700)(467,760) direct Income87,000433,00070,240 Interest Cost(12,000)(7,300)(2,240) Income before Income Tax75,00036,00068,000 Income Tax(30,000)(14,400)(28,000) Net Income45,00021,60040,000 IAN Manufacturing Company Statement of retained Earnings For the year ended June 30, Year 5 and Year 4 Year 5Year 4 Balance, setoff ce remony60,20049,600 Add: Net Income45,00021,! 600 Subtotal105,20071,200 Deduct : Dividends Paid11,00011,000 Balance, Ending94,20060,200 Part A encrypt the following measures for both years 4 and 5 1. working(a) working capital 2.Current ratio 3.Acid-test ratio 4.Accounts receivable turn over 5.Collection flow of receivables 6.Inventory turn over 7.Days to sell...If you want to get a wide essay, order it on our website: BestEssayCheap.com
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