![Use the following information for Taco Swell, Inc., for Problems 23 and 24 (assume the tax rate is 21 percent):<br>2020<br>2021<br>Sales<br>$21,514<br>$24,047<br>Depreciation<br>3,089<br>3,229<br>Cost of goods sold<br>7,397<br>8,750<br>Other expenses<br>1,759<br>1,531<br>Interest<br>1,443<br>1,723<br>Cash<br>11,279<br>12,021<br>Accounts receivable<br>14,934<br>17,529<br>Short-term notes payable<br>2,176<br>2,133<br>Long-term debt<br>37,778<br>45,798<br>Net fixed assets<br>94,601<br>100,893<br>Accounts payable<br>8,150<br>8,632<br>Inventory<br>26,551<br>28,421<br>Dividends<br>2,573<br>3,008<br>Financial Statements [O LO1] Draw up an income statement and balance sheet for this company for 2020 and 2021.<br>](https://s3.us-east-1.amazonaws.com/storage.unifolks.com/qimg-008/008_4fvly50-g40w5gvs.png)
Extracted text: Use the following information for Taco Swell, Inc., for Problems 23 and 24 (assume the tax rate is 21 percent): 2020 2021 Sales $21,514 $24,047 Depreciation 3,089 3,229 Cost of goods sold 7,397 8,750 Other expenses 1,759 1,531 Interest 1,443 1,723 Cash 11,279 12,021 Accounts receivable 14,934 17,529 Short-term notes payable 2,176 2,133 Long-term debt 37,778 45,798 Net fixed assets 94,601 100,893 Accounts payable 8,150 8,632 Inventory 26,551 28,421 Dividends 2,573 3,008 Financial Statements [O LO1] Draw up an income statement and balance sheet for this company for 2020 and 2021.