28 Jul CASE PROBLEM 1: CREATE AND SUBMIT AN INCOME STATEMENT AND A BALANCE
Case Problem 1: Create and submit an income statement and a balance sheet for Hitchcock Productions. Then, answer the questions that follow. Assume a 30% tax rate for Hitchcock. Cash…512 Depreciation…85 Cost of Goods Sold…128 Accounts Receivable…700 Sales…689 Interest Paid on Bonds…86 Long-term Debt…847 Net Plant & Equipment…1776 Inventory…301 Accounts Payable…540 Dividends Paid…57 Notes Payable…144 9. What is Hitchcock’s net income ? 10. What is Hitchcock’s Owners’ Equity ? 11. What is Hitchcock’s Operating Cash Flow ? 12. What is the quick ratio for View complete question » Case Problem 1: Create and submit an income statement and a balance sheet for Hitchcock Productions. Then, answer the questions that follow. Assume a 30% tax rate for Hitchcock. Cash…512 Depreciation…85 Cost of Goods Sold…128 Accounts Receivable…700 Sales…689 Interest Paid on Bonds…86 Long-term Debt…847 Net Plant & Equipment…1776 Inventory…301 Accounts Payable…540 Dividends Paid…57 Notes Payable…144 9. What is Hitchcock’s net income ? 10. What is Hitchcock’s Owners’ Equity ? 11. What is Hitchcock’s Operating Cash Flow ? 12. What is the quick ratio for Hitchcock ? 13. What is Hitchcock’s profit margin ?
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