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Solnce55 [7]
3 years ago
14

Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes):

Business
1 answer:
VashaNatasha [74]3 years ago
5 0

Answer:

These are the new and reconciled statements

Explanation:

First, we have to design the original statements this way:

Yoo Corporation

Income statement

Sales                    45.700

Costs        40.100  

Net income 5.600  

<em>Total       45.700     45.700 </em>

Yoo Corporation

Financial position statement

Assets    21.900  

Debt                 5.900

Equity                16.000

<em>Total    21.900       21.900 </em>

Now we can create the new statements multiply every item by 1,06 or 106% to include the increase of 6 percent

Yoo Corporation

Income statement

Sales                  48.442

Costs        42.506  

Net income  5.936  

<em>Total        48.442 48.442 </em>

Yoo Corporation

Financial position statement

Assets                         23.214  

Debt    6.254

Equity  16.960

<em>Total         23.214 23.214 </em>

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