Prepare an income statement

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Reference no: EM131185236

Use the following information for Ingersoll, Inc., (assume the tax rate is 40 percent): 2014 2015 Sales $ 9,035 $ 9,609 Depreciation 1,245 1,246 Cost of goods sold 2,816 3,180 Other expenses 759 654 Interest 645 723 Cash 4,229 5,323 Accounts receivable 5,559 6,247 Short-term notes payable 914 866 Long-term debt 14,780 17,250 Net fixed assets 35,655 36,717 Accounts payable 4,556 4,305 Inventory 9,790 10,058 Dividends 1,076 1,171 Prepare an income statement for this company for 2014 and 2015.

Reference no: EM131185236

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