Following is Crash Zone Corporations balance sheet at the end of 2013 and its cash flow statement

Question:

Following is Crash Zone Corporation’s at the end of 2013 and its cash flow statement for 2014. Crash zone manufactures safety equipment for race cars.
Balance Sheet as of December 31, 2013
Assets
Current assets
Cash ........................ $ 8,250
Accounts receivable—net ................. 7,110
Inventory ...................... 14,221
Prepaid assets ...................... 1,850
Total current assets ................... 31,431
Land ........................ 30,278
Building and equipment ................ 222,665
Less: Accumulated depreciation, building and equipment .... (41,115)
Total assets ...................... $243,259
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable .................. $ 13,500
Accrued expenses ................... 4,888
Total current liabilities .................. 18,388
Long-term debt .................... 31,500
Stockholders’ equity
, $10.00 ............. 21,552
Paid-in capital ..................... 45,002
Retained earnings .................. 146,872
Less: Treasury stock .................. (20,005)
Total liabilities and stockholders’ equity ........ $243,259

Statement of Cash Flows for Year Ended December 31, 2014
Operating activities
Net income ................... $ 15,750
Plus (minus) noncash items
+Depreciation expense ................. 6,210
Plus (minus) changes in current asset and liability accounts
-Increase in inventory ................ (350)
1Decrease in prepaid assets ............... 102
2Decrease in accrued expenses ............. (655)
2Increase in ........... (3,178)
2Decrease in ............ (1,230)
Cash provided by operating activities .......... 16,649
Investing activities
Purchase of equipment ............... (27,910)
Proceeds from the sale of land ............. 6,555
Cash used by investing activities ........... $(21,355)
Financing activities
Issuance of long-term debt ................ 8,900
Issuance of common stock .............. 23,000
Cash dividends paid ................. (12,200)
Purchase of treasury stock ............... (7,513)
Cash provided by financing activities ............ 12,187
Net cash flow .................... $ 7,481

Additional Information:
a. During 2014, 500 shares of common stock were sold to the public.
b. Land was sold during 2014 at an amount equal to its original cost.

Required:
Use the preceding information to derive Crash Zone’s at the end of 2014.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...