- Financial Statements For The Genatron Manufacturing Corporation For The Years 2020 And 2019 Are Shown Genatron Manufact 1 (59.67 KiB) Viewed 46 times
Financial statements for the Genatron Manufacturing Corporation for the years 2020 and 2019 are shown. Genatron Manufacturing Corporation Balance Sheet 2020 2019 ASSETS Cash $41,037 $51,805 Accts receivable 261,538 200,068 Inventory 501,642 450,993 Total current assets 804,217 702,866 Fixed assets, net 400,000 300,000 Total assets $1,204,217 $1,002,866 LIABILITIES AND EQUITY Accts. payable $172,933 $133,210 Bank loan 91,610 91,610 Accruals 70,000 50,000 Total current liabilities 334,543 274,820 Long-term debt, 12% 398,671 296,404 Common stock, $10 par 300,000 300,000 Capital surplus 42,659 42,659 Retained earnings 128,344 88,983 Total liabilities & equity $1,204,217 $1,002,866 Genatron Manufacturing Corporation Income Statement 2020 2019 Net sales $1,626,380 $1,426,380 Cost of goods sold 975,828 855,828 Gross profit 650,552 570.552 Expenses: General and administrative 150,000 150,000 Marketing 150,000 130,000 Depreciation 50,683 41,845 Interest 54,820 44,172 Earnings before taxes 245,049 204,535 Income taxes 75,790 61,374 Net income $169,259 $143,161
(a) Calculate Genatron's dollar amount of net working capital in each year. 2020 2019 Net working capital $ $ $