5. Prepare an income statement for this company for 2011 and 2012. (Do not round

Question

5.

Prepare an income statement for this company for 2011 and 2012. (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))

Prepare a balance sheet of this company for 2011 and 2012. (Do not round intermediate calculations.Be sure to list the accounts in order of their liquidity.)

Prepare a balance sheet of this company for 2011 and 2012. (Be sure to list the accounts in order of their liquidity.)

Ingersoll, Inc.
Balance Sheet as of Dec. 31

Explanation / Answer

Profit & Loss Account

Year                 2011             2012

Sales                8335             8909

Operating Exp  

Cost of Good Sold 2746       3110

Other Exp               689            584

EBITDA                   4900         5215

Depreciation           1175          1176

EBIT                       3725          4039

Interest                   575           653

Dividends Received   1006     1101

EBT                               4156    4487

Tax@40%                     1662.4   1794.8

Net Profit                        2493.6    2692.2

Balance Sheet                 2011        2012

Equity                              32559.4   33021.8

P & L (Cr)                         2493.6   2692.2

Liabilities

Accounts Payable           4416        4235

Short Term Note Payable 844       796

Long Term debt                14010    16550

Total                                54323     57295

Assets

cash                            4159                 5253

Accounts Receivable  5489                 6177

Inventory                     9720                9988

Net Fixed Assets       34955              35877

Total                          54323            57295               

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