Watson Corporation , 10-15 a. Retained Earnings, Beginning of Year +1 Net Income

Question

Watson Corporation , 10-15 a. Retained Earnings, Beginning of Year +1   Net Income for Year +1   Retained Earnings, End of Year +1 Dividend Declared and Paid for Year +1   b. Accumulated Depreciation, End of Year +1 Accumulated Depreciation, End of Year 0   Depreciation Expense for Year +1   c. Inventories, End of Year +1   Increase in Inventories for Year +2 Inventories, End of Year +2   d. Average Notes Payable for Year +2:   Average Long-Term Debt for Year +2:   Average Interest-Bearing Liabilities for Year +2 Interest Rate   Interest Expense for Year +2 e. Other Current Liabilities, End of Year +1 Increase in Other Current Liabilities for Year +2   Other Current Liabilities, End of Year +2 f. Fixed Assets, End of Year +2   Acquisitions of Fixed Assets during Year +3   Fixed Assets, End of Year +3 g. Retained Earnings, End of Year +2   Net Income for Year +3   Dividends Declared and Paid during Year +3   Retained Earnings, End of Year +3 h. Long-Term Debt, End of Year +2 Increase in Long-Term Debt during Year +2 Long-Term Debt, End of Year +3   i. Income Tax Expense for Year +4 Net Income before Income Taxes for Year +4:   Income Tax Rate:   j. Cost of Goods Sold for Year +4   Inventories, End of Year +4 Inventories, End of Year +3 Purchase of Inventories during Year +3   UX VU . Partial forecasts of "T10-3 10.15 Identifying Financial Statement Relation; cial statements for Watson Corporation appear in Exhibit 10.8 income (balance sheet, and Exhibit 10.10 (statement of cash flows. Selected amour ted, as have all totals (indicated by XXXX). statement, Exhibit 109 have been omit, "

Explanation / Answer

Watson Corporation , 10-15 All Amounts in $ a. Retained Earnings, Beginning of Year +1   21700 Net Income for Year +1   1153 Retained Earnings, End of Year +1 22043 Dividend Declared and Paid for Year +1   810 b. Accumulated Depreciation, End of Year +1 36112 Accumulated Depreciation, End of Year 0   33100 Depreciation Expense for Year +1   3012 c. Inventories, End of Year +1   8223 Increase in Inventories for Year +2 1322 Inventories, End of Year +2   9545 d. Average Notes Payable for Year +2:   7023.5 Average Long-Term Debt for Year +2:   50321.5 Average Interest-Bearing Liabilities for Year +2 57345 Interest Rate   7% Interest Expense for Year +2 4014.15 e. Other Current Liabilities, End of Year +1 3630 Increase in Other Current Liabilities for Year +2   436 Other Current Liabilities, End of Year +2 4066 f. Fixed Assets, End of Year +2   126467 Acquisitions of Fixed Assets during Year +3   6022 Fixed Assets, End of Year +3 132489 g. Retained Earnings, End of Year +2   23700 Net Income for Year +3   4206 Dividends Declared and Paid during Year +3   1016 Retained Earnings, End of Year +3 26890 h. Long-Term Debt, End of Year +2 51549 Increase in Long-Term Debt during Year +3 10107 Long-Term Debt, End of Year +3   61656 i. Income Tax Expense for Year +4 2892 Net Income before Income Taxes for Year +4:   8262 Income Tax Rate:   35% j. Cost of Goods Sold for Year +4   46465 Inventories, End of Year +4 11333 Inventories, End of Year +3 10711 Purchase of Inventories during Year +4 47087

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