Bus 657 Week 1 Assignment
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Bus 657 Week 1 Assignment
Financial Statements for 2013:
Jaedan Industries
A: Income Statement
For the year ending December 31, 2012
Sales 42,000,000
Cost of Goods Sold 26,460,000
Gross Profit 15,540,000
Operating Expenses:
Selling, General and Administrative 1,621,000
Depreciation 800,000
Earnings before interest and taxes 13,119,000
Interest Expense 375,200
Earnings before taxes 12,743,800
Taxes 4,332,892
Net Income 8,410,908
Dividends paid 2,102,727
Addition to Retained Earnings 6,308,181
Jaedan Industries
B: Statement of Retained Earnings
For the year ending December 31, 2013
Retained Earnings balance from beginning of year 1,628,819
Plus: Net Income for 2013 8,410,908
Less: Cash dividends...
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