Spreadsheet Exercise

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The income statement and balance sheet are the basic reports that a firm constructs for use by management and for distribution to stockholders, regulatory bodies, and the general public. They are the primary sources of historical financial information about the firm. Dayton Products, Inc., is a moderate-sized manufacturen The company's management has asked you to perform a detailed financial statement analysis of the firm.

The income statement data for the years ending December 31, 2009 and 2008, respectively, is presented in the table at the top of page 101. {Note: Purchases of inventory during 2009 amounted to $109,865.)

Sales

$178,909.00

$187,510.00

Cost of goods sold

p

111,631.00

Selling, general, and administrative expenses

12,356.00

12,900.00

Other tax expense

33,572.00

33,377.00

Depreciation and amortization

12,103.00

7,944.00

Other income (add to EEIT to arrive at EBT)

3,147.00

3,323.00

Interest expense

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