Build the Income Statement and Balance Sheet for CanDo Inc. based on the information given below:
|
Accounts payable
|
$141,000
|
|
Accounts receivable
|
$103,000
|
|
Cash and cash equivalents
|
$154,000
|
|
CoGS
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$224,700
|
|
Common Stock
|
$1,286,000
|
|
Depreciation
|
$37,000
|
|
Dividend payout ratio
|
40%
|
|
Interest paid
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$43,000
|
|
Inventory
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$129,000
|
|
Long-term debt
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$1,254,000
|
|
Net Fixed Assets
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$2,530,000
|
|
Sales
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$330,000
|
|
Short-term debt
|
$132,000
|
|
Tax rate
|
35%
|
|
Number of shares
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1,000,000
|
|
Price per share
|
$0.50
|