Mathematics homework help

For the Year Ended December 31, 2009Sales (all on credit) …………………………………………………………… $ 4,000,000Cost of Goods Sold…………………………………………………………………3,000,000                                                                                                          ___________Gross Profit………………………………………………………………………….$ 1,000,000Selling and Administrative Expenses…………………………………….     450,000                                                                                                          _____________Operating Profit ……………………………………………………………………$  550,000Interest Expense……………………………………………………………………      50,000Extraordinary Loss………………………………………………………………….   200,000Earnings Before Taxes……………………………………………………………$  300,000Income Taxes (33%)……………………………………………………………….    100,000Net Income…………………………………………………………………………….$ 200,000                                                                     SAXTON COMPANY                                                                         Balance Sheet                                                                  As of December 31, 2009                                                                            AssetsCash…………………………………………………………………………… $  30,000Accounts Receivable…………………………………………………..    350,000Marketable Securities ………………………………………………..      50,000Inventory…………………………………………………………………….    370,000                                                                                                 ____________Total Current Assets……………………………………………………. $ 800,000Net Plant and Equipment……………………………………………..    800,000                                                                                                  ____________Total Assets………………………………………………………………….$ 1,600,000                                                                    Liabilities and Stockholders’ EquityAccounts Payable…………………………………………………………..$  50,000Notes Payable………………………………………………………………..  250,000                                                                                                  _____________Total Current Liabilities…………………………………………………..$ 300,000Long Term Liabilities………………………………………………………… 300,000                                                                                                     ____________                                  Total Liabilities ………………………………………………………………..$ 600,000Common Stock…………………………………………………………………. 400,000Retained Earnings…………………………………………………………….. 600,000                                                                                                       ____________Total Stockholders’ Equity……………………………………………….$ 1,000,000                                                                                                       ____________

 
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"Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET15 to claim 15% Discount This Month!!":

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