Use the following information for Taco Swell, Inc., (assume the tax rate is 30 percent):   

	2010			2011
Sales	$	15,073		$	15,036
Depreciation		1,731			1,806
Cost of goods sold		4,329			4,777
Other expenses		981			859
Interest		830			961
Cash		6,172			6,676
Accounts receivable		8,110			9,637
Short-term notes payable		1,240			1,217
Long-term debt		20,530			24,811
Net fixed assets		51,042			54,483
Accounts payable		4,496			4,854
Inventory		14,402			15,358
Dividends		1,300			1,688

  

Prepare a balance sheet of this company for 2010 and 2011. (Be sure to list the accounts in order of their liquidity.)

 

TACO SWELL, INC., Balance Sheet as of Dec. 31
	2010		2011
Assets
Cash	$		$
Accounts receivable
Inventory
Current assets
Net fixed assets
Total assets	$		$
Liabilities
Accounts payable	$		$
Notes payable
Current liabilities
Long-term debt
Owners' equity
Total liabilities & owners' equity	$		$

    

Prepare an income statement for this company for 2010 and 2011. (Round your answers to 2 decimal places. (e.g., 32.16))

TACO SWELL, INC., Income Statement
	2010		2011
Sales	$		$
COGS
Other expenses
Depreciation
EBIT	$		$
Interest
EBT
Taxes (30%)
Net income
Dividends	$		$
Additions to RE