Year Sales Net Income
2008 $8,200 $1,500
2009 $8,000 $1,400
2010 $9,000 $1,600
2011 $10,000 $1,800
Comment on the results displayed on the graph.
• Prepare a pie chart of Joe’s Fly-By-Night Oil’s expense distribution for 2011 and comment on the results displayed.
• Prepare a pie chart of Joe’s Fly-By-Night Oil’s asset distribution for Dec 31, 2011 and comment on the results displayed.
• Prepare a pie chart of Joe’s Fly-By-Night Oil’s capital structure for Dec 31, 2011
and comment on the results displayed.
Income Statement 2012
Cost of Goods Sold 4,000
SG&A Expenses 3,000
Before Tax Earnings 2,800
Net Income 1,800
Addition to retained Earnings $1,200
Balance sheet 2012
Current Assests 25,000
Less accumulated Dep. (12,000)
Equipment Net 15,000
Total Assets 40,000
Liabilities and Equity
Current Liabilities 17,000
Long Term Debt 3,000
Total Liabilities 20,000
Common Stock 7,000
Retained Earnings 13,000
Total Equity 20,000
Total Liabilities & Equity 40,000
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