Relations between financial statements. Compute the missing information in each of the following four independent cases. The

Question:

Relations between financial statements. Compute the missing information in each of the following four independent cases. The letters in parentheses refer to the following:

BS — Balance sheet IS — Income statement SCF — Statement of cash flows 630 3,290 2,780 1,240 Accounts Receivable, Jan. 1, Year 2 (BS) $

Sales Collections on Account from Customers for Year 2 on

(IS)

Account during Year 2 (SCF)

Accounts Income Taxes Receivable, Payable, Dec.

Jan.

31, 1, Year Year 2

2

(BS)

(BS)

$

Income Payments Tax to Expense Governments for Year during 2 (IS)

Year 2 (SCF) 8,290 Income Taxes Payable, Dec. 31, Year 2 (BS) 1,410 Building (net of depreciation), Jan. 1, Year 2 (BS) $ 89,000 Depreciation Purchase of Building Expense during for Year Year 2 (IS)

2 (SCF)

17,600 Building (net of depreciation), Dec. 31, Year 2 (BS) 102,150 Retained Earnings, Jan. 1, Year 2 (BS) $ 76,200 Net Income for Year 2 (IS) 14,200 Dividends Retained Earnings, Declared and Dec.

Paid 31, Year during 2 (BS)

Year 2 (SCF)

83,300

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