Question

Use the following information for Ingersoll, Inc., (assume the tax rate is 30 percent):

	2016			2017
Sales	$	15,073		$	15,036
Depreciation		1,731			1,806
Cost of goods sold		4,329			4,777
Other expenses		981			859
Interest		830			961
Cash		6,172			6,676
Accounts receivable		8,110			9,637
Long-term debt		20,530			24,811
Net fixed assets		51,042			54,483
Accounts payable		5,736			6,071
Inventory		14,402			15,358
Dividends		1,300			1,688

Prepare a balance sheet for this company for 2016 and 2017. (Do not round intermediate calculations. Be sure to list the accounts in order of their liquidity.)

INGERSOLL, INC. Balance Sheet as of Dec. 31
		2016			2017
Assets
(Click to select)InventoryNotes payableAccounts receivableCashAccounts payable	$			$
(Click to select)Accounts payableNotes payableAccounts receivableLong-term debtOwners' equity {C}		{C} {C}{C}			{C} {C}{C}
{C} (Click to select)Notes receivableAccounts receivableNet fixed assetsAccounts payableInventory {C}		{C} {C}{C}			{C} {C}{C}
Current assets	$	{C} {C}{C}		$	{C} {C}{C}
{C} (Click to select)Accounts payableNotes receivableAccounts receivableLong-term debtNet fixed assets {C}		{C} {C}{C}			{C} {C}{C}
Total assets	$	{C} {C}{C}		$	{C} {C}{C}
Liabilities
{C} (Click to select)Accounts receivableLong-term debtNet fixed assetsAccounts payableCost of goods sold {C}	$	{C} {C}{C}		$	{C} {C}{C}
Current liabilities	$	{C} {C}{C}		$	{C} {C}{C}
{C} (Click to select)Long-term debtCost of goods soldAccounts receivableCashOwners' equity
(Click to select)CashAccounts receivableCost of goods soldOwners' equityNotes receivable {C}		{C} {C}{C}			{C} {C}{C}
Total liabilities & owners' equity	$			$

Prepare an income statement for this company for 2016 and 2017. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.)

INGERSOLL, INC. Income Statement
		2016			2017
Sales	$			$
COGS
Other expenses
Depreciation
EBIT	$			$
Interest
EBT	$			$
Taxes (30%)
Net income	$			$
Dividends	$			$
Additions to RE