For year ended 123110 firm h sold 100000 units of product


For year ended 12/31/10, Firm H sold 100,000 units of product at a price of $10 per unit. The Gross Margin was 70% and S,G &A was 10% of Sales. Year- End Debt was 1,000,000 on which a 10% interest rate is paid for the year. The after -Tax Rate is 80% and the Dividends payout rate is 60%. As of 12/31/2010, Assets totaled $ 7,000,000. Year 2010 was the firm's first year of operations.

Please can you help with the following

Income Statement

Statement of Retained Earnings

Statement of Owner's Equity

Request for Solution File

Ask an Expert for Answer!!
Financial Management: For year ended 123110 firm h sold 100000 units of product
Reference No:- TGS02294340

Expected delivery within 24 Hours