Question Details
The following is the financial statement of Executive Fruit Company for the year ended December 2014.
December 2014.
INCOME STATEMENT, 2014
(Figures in $ Thousands)
Revenue
$
7,500
Cost of
goods sold
6,750
EBIT
$
750
Interest
150
Earnings
before
taxes
$
600
State and
federal tax
240
Net
income
$
360
Dividends
240
Additions
to retained
earnings
$
120
BALANCE SHEET (Year-End, 2014)
(Figures in $ Thousands)
Assets
Net working
capital
$
750
Fixed assets
3,000
Total assets
$
3,750
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STATUSAnswered
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DATE ANSWEREDJan 02, 2020
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