Following are the 20X2 balance sheet and income statement for the S/B Corporation. Use them to construct a sources-and-uses-of-cash statement.

Transcribed Image Text:

Assets Cash... Accounts receivable Inventories. Net fixed assets Total assets Liabilities and Equity S/B CORPORATION Balance Sheet December 31, 20X2 (in thousands) 20X2 20X1 $ 388 $ 375 1,470 1,219 2,663 2,777 9,314 9,225 $13,835 $13,596 Accounts payable $ 282 $ 259 Bank loan payable 1,300 924 Taxes payable (33) 99 Accrued expenses payable 95 106 Mortgage... 4,000 4,000 Common stock 4,000 4,000 Retained earnings 4,191 4,208 Total liabilities and equity $13,835 $13,596