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This week’s assignment is to complete financial statements for Blue Bill Corporation. You are given a comparative statement with some additional information to complete.

Required:

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Download the Week 05 Problems Excel spreadsheetto use in completing your problems.

Complete the yellow highlighted cells on the balance sheet and income statement.

Following is the additional information that you will need to complete the statements:

 

 

2004

2003

Accounts Receivable

$1,200,000

$1,000,000

Allowance for Doubtful Accounts

35,000

50,000

Income Tax Expense

100,000

120,000

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