help me fill this 494703

Income statement and balance sheet data for Virtual Gaming Systems are provided below.

Document Preview:
Don't use plagiarized sources. Get Your Custom Essay on
help me fill this 494703
For $10/Page 0nly
Order Essay

Income statement and balance sheet data for Virtual Gaming Systems are provided below.?? VIRTUAL GAMING SYSTEMS?Income Statement?For the year ended December 31?? ?   2013?   2012??  Sales revenue?$3,510,000  ?$3,036,000  ??  Cost of goods sold?2,480,000  ?1,950,000  ?? ????       Gross profit?1,030,000  ?1,086,000  ??  Expenses:? ? ??      Operating expenses?955,000  ?858,000  ??      Depreciation expense?30,000  ?27,000  ??      Loss on sale of land?0  ?8,000  ??      Interest expense?18,000  ?15,000  ??      Income tax expense?8,000  ?48,000  ?? ????        Total expenses?1,011,000  ?956,000  ?? ????  Net income?$    19,000  ?$   130,000  ?? ? ? ????  VIRTUAL GAMING SYSTEMS?Balance Sheet?December 31?? ?   2013?   2012?   2011??  Assets? ? ? ??  Current assets:? ? ? ??      Cash?$  201,000   ?$186,000   ?$144,000   ??      Accounts receivable?75,000   ?81,000   ?60,000   ??      Inventory?125,000   ?105,000   ?135,000   ??      Prepaid rent?14,000   ?12,000   ?6,000   ??  Long-term assets:? ? ? ??        Investment in bonds?105,000   ?105,000   ?0   ??        Land?300,000   ?210,000   ?240,000   ??        Equipment?300,000   ?270,000   ?210,000   ??        Less: Accumulated depreciation?(99,000)  ?(69,000)  ?(42,000)  ?? ?????          Total assets?$1,021,000   ?$900,000   ?$753,000   ?? ? ? ? ??  Liabilities and Stockholders’ Equity? ? ? ??  Current liabilities:? ? ? ??      Accounts payable?$    78,000   ?$ 66,000   ?$ 81,000   ??      Interest payable?9,000   ?6,000   ?3,000   ??      Income tax payable?12,000   ?15,000   ?14,000   ?? Long-term liabilities:? ? ? ??      Notes payable?400,000   ?285,000   ?225,000   ??  Stockholders’ equity:? ? ? ??      Common stock?300,000   ?300,000   ?300,000   ??      Retained earnings?222,000   ?228,000   ?130,000   ?? ?????         Total liabilities and stockholders’ equity?$1,021,000   ?$900,000   ?$753,000   ?? ? ? ? ????? ?  1. value:?5.00 points     Required:??1.?Calculate the following risk ratios for 2012 and…

Attachments:

admin

Recent Posts

Economic Debate #3- Progressive Income Tax – The Homework Helper

Economic Debate- Progressive Income Tax For this Economic Debate, we are going to discuss the…

2 years ago

MKT 6120 – Marketing Management – Davis Learning Engagement #7

TOPIC: Going Global Discussion Thread 1 (initial post due Wednesday for full credit) Please note:…

4 years ago

jvjvjhvjhvhjvj

Assignment Topic This week will culminate in the creation of a narrated PowerPoint to create…

4 years ago

Students are supposed to select a technological organization of their choice.

The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. Assignments submitted…

4 years ago

Increases the risk of wildfires

you need to post your 2-page information flier to share with your Final Project Group.…

4 years ago

Statistics for Technology management

discussion: Discuss the methods used at your company to measure and ensure quality products and…

4 years ago