Posted: August 4th, 2022

Joes Fly-By-Night Oil

Prepare a graph of sales and net income for the years 2008 – 2011. For thepurposes of this exercise, assume the following historical sales and net income figures for Joe’s Fly-By-Night Oil:Year Sales Net Income2008 $8,200 $1,5002009 $8,000 $1,4002010 $9,000 $1,6002011 $10,000 $1,800Comment on the results displayed on the graph.• Prepare a pie chart of Joe’s Fly-By-Night Oil’s expense distribution for 2011 and comment on the results displayed.• Prepare a pie chart of Joe’s Fly-By-Night Oil’s asset distribution for Dec 31, 2011 and comment on the results displayed.• Prepare a pie chart of Joe’s Fly-By-Night Oil’s capital structure for Dec 31, 2011and comment on the results displayed. Income Statement 2012 Sales 10,000Cost of Goods Sold 4,000GP 6,000SG&A Expenses 3,000EBIT 3,000Intrest 200Before Tax Earnings 2,800Taxes 1,000Net Income 1,800EPS $1.80Dividends $600Addition to retained Earnings $1,200   Balance sheet 2012Assets Cash $5,000A/R 3,000Inventory 17,000Current Assests 25,000Equipment 27,000Less accumulated Dep. (12,000)Equipment Net 15,000Total Assets 40,000Liabilities and EquityA/p 17,000Current Liabilities 17,000Long Term Debt 3,000Total Liabilities 20,000Common Stock 7,000Retained Earnings 13,000Total Equity 20,000Total Liabilities & Equity 40,000  

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