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  3. a use the following information for company coltib to create...

Question: a use the following information for company coltib to create...

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a) Use the following information for Company COLTIB to create the Balance Sheet and the Income Statement for 2017 and 2018, Tax rate is 30% for both 2017 and 2018. In 2017, depreciation was 500 2018 2,400 3,000 1,000 200 10% of the Long-term Debt as of the end of the year 800 310 317 2,000 8,000 300 640 2017 2,000 2,500 800 100 Sales for the year Accumulated Depreciation as of Dec 31st Cost of Goods Sold for the Other Expenses for the year Interest for the year Cash as of Dec 31st Accounts Receivable as of Dec 31st Short-term Notes Payable as of Dec 31st Long-term Debt as of Dec 31st Total Gross Fixed Assets as of Dec 31st Accounts Payable as of Dec 31st Inventory as of Dec 31 st Dividends for the vear Accumulated Retained Earnings 300 250 450 1,800 8,000 500 600 One third of the Net Income You should find it, given that this is the only account under Equity! b) Company X has not issued or bought back new stock for the last five years. Calculate total equity for 2016 c) How does the Sales and Total Assets change from 2017 to 18? Do you see this as a positive or a negative change vis-à-vis companys financial health?

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