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A. Construct the primary financial statements for either 2018 or 2019? 12/31/2018 and 12/31/2019 2018 2019...

A. Construct the primary financial statements for either 2018 or 2019?

12/31/2018 and 12/31/2019
2018 2019
Accounts Payable 5179 5022
Accounts Receivable 6527 7352
Cash 4931 6244
Cost of Goods Sold 3235 3672
Depreciation 1350 1351
Dividends 1147 1261
Interest 630 724
Inventory 11604 11926
Long term debt 16152 19260
Net Fixed Assets 41346 42332
Other expenses 767 641
Sales 9402 10091
Short term Notes payable 953 895
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Answer #1

Primary financial statements consist of Balance sheet & income statement (profit and loss account) that together provide the essential data required by a firm's stakeholders to assess its financial position.

Constructing Primary Financial Statement for the year 2019

Income Statement for the Year 2019

Particular Amount Amount

REVENUE
Sales 10091 10091
EXPENSES
Cost of Goods Sold 3672
Depreciation 1351
Interest 724
Other Expenses 641 6388
Profit 3703

Balance Sheet for the Year 2019

Particulars Amount
ASSETS
Fixed Assets 42332
Accounts Receivables 7352
Cash 6244
Inventory 11926
Total Assets 67854
EQUITY & LIABILITY
Owner's Equity ( Balancing Figure) 40235
Profit for the year 3703
Less: Dividends (1261) 2442
Long Term Debt 19260
Accounts Payable 5022
Short term Notes payable 895
Total Equity & Liabilities 67854


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