Assignment Week 05 Prepare a formal income statement that contains the relevant subtotals. Show valu

Assignment Week 05 Prepare a formal income statement that contains the relevant subtotals. Show values in whole dollars (no cents). Data Block Amount Cash (Beginning of year) $503,500 Quantity Sold 35,200 Quantity Produced 63,000 Sales Price $45.00 Cost per unit to produce $25.40 Staff Expenses $426,400 Facility Expenses $278,200 Asset Sale $1,755,300 Asset Purchase $2,205,000 Tax rate 25% Depreciation $28,000 Interest Paid on Loan $63,000 Loan Principle payment $152,000 Dividends $108,000 Prepare a cash flow statement using the following data. Assume that no taxes are due on asset purchases or sales. Prepare a formal cash flow statement that contains the relevant subtotals. Show values in whole dollars (no cents). Indicate the ending cash balance. Data Block Amount Cash (Beginning of year) $360,600 Net Income $598,000 Staff Expenses $764,200 Facility Expenses $887,200 Asset Sale $156,530 Asset Purchase $1,240,400 Tax rate 22.5% Depreciation $89,500 Interest Paid on Loan $76,000 Loan Principle payment $50,000 New Loan $500,000 Dividends Paid $100,000

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