1. At the beginning of the year, the non-profit Prime Cardiac Pump (PCP) shows the following balances in the balance sheet: Assets Cash ? 57,000 417,000 43,000 PP&E 2,930,000 Goodwill 23,000 Patents 374,000 Total Assets 3,844,000 Securities Receivables Prime Cardiac Pump Balance Sheet Liabilities + Net Assets Wages Payable Accounts Payable Notes Payable Mortgage Total Liabilities Net Assets (NA) Liabilities + NA 23,000 17,000 460,000 1,570,000 2,070,000 1,774,000 3,844,000 300 Over the following year the agency records the following transactions: 1. Pays wages of 23,000 2. Receives 20,000 owed to it for past goods delivered 3. Depreciates its facility by 100,000 4. Sells off the patent rights of a new pump for 600,000, half paid in cash, and half to be paid in two years. It had originally purchased the patent for 374,000. 5. Borrows 500,000 to upgrade the factory. 6. Pays 17,000 to vendors to whom it owed money. 7. Invests 300,000 in upgrading HVAC systems in the factory. 8. Signs a contract to sell 300,000 of pumps, to be delivered next year. Receives no money up-front for the sale. 9. Sells 300,000 of securities in its portfolio, for which it had paid 100,000. 10. Pays off 200,000 on the mortgage. Record these transactions and make a new balance sheet reflecting end-of-the year balances. Then, calculate profit/loss and develop a cash flow statement. At the beginning of the next year, the board of trustees decides to sell PCP to a

1. At the beginning of the year, the non-profit Prime Cardiac Pump (PCP) shows the following balances in the balance sheet: Prime Cardiac Pump Balance Sheet Over the following year the agency records the following transactions: 1. Pays wages of 23,000 2. Receives 20,000 owed to it for past goods delivered 3. Depreciates its facility by 100,000 4. Sells off the patent rights of a new pump for 600,000 , half paid in cash, and half to be paid in two years. It had originally purchased the patent for 374,000 . 5. Borrows 500,000 to upgrade the factory. 6. Pays 17,000 to vendors to whom it owed money. 7. Invests 300,000 in upgrading HVAC systems in the factory. 8 . Signs a contract to sell 300,000 of pumps, to be delivered next year. Receives no money up-front for the sale. 9. Sells 300,000 of securities in its portfolio, for which it had paid 100,000 . 10. Pays off 200,000 on the mortgage. Record these transactions and make a new balance sheet reflecting end-of-the year balances. Then, calculate profit/loss and develop a cash flow statement. 1. At the beginning of the year, the non-profit Prime Cardiac Pump (PCP) shows the following balances in the balance sheet: Over the following year the agency records the following transactions: 1. Pays wages of 23,000 2. Receives 20,000 owed to it for past goods delivered 3. Depreciates its facility by 100,000 4. Sells off the patent rights of a new pump for 600,000 , half paid in cash, and half to be paid in two years. It had originally purchased the patent for 374,000 . 5. Borrows 500,000 to upgrade the factory. 6. Pays 17,000 to vendors to whom it owed money. 7. Invests 300,000 in upgrading HVAC systems in the factory. 8. Signs a contract to sell 300,000 of pumps, to be delivered next year. Receives no money up-front for the sale. 9. Sells 300,000 of securities in its portfolio, for which it had paid 100,000 . 10. Pays off 200,000 on the mortgage. Record these transactions and make a new balance sheet reflecting end-of-the year balances. Then, calculate profit/loss and develop a cash flow statement. 1. At the beginning of the year, the non-profit Prime Cardiac Pump (PCP) shows the following balances in the balance sheet: Over the following year the agency records the following transactions: 1. Pays wages of 23,000 2. Receives 20,000 owed to it for past goods delivered 3. Depreciates its facility by 100,000 4. Sells off the patent rights of a new pump for 600,000 , half paid in cash, and half to be paid in two years. It had originally purchased the patent for 374,000 . 5. Borrows 500,000 to upgrade the factory. 6. Pays 17,000 to vendors to whom it owed money. 7. Invests 300,000 in upgrading HVAC systems in the factory. 8. Signs a contract to sell 300,000 of pumps, to be delivered next year. Receives no money up-front for the sale. 9. Sells 300,000 of securities in its portfolio, for which it had paid 100,000 . 10. Pays off 200,000 on the mortgage. Record these transactions and make a new balance sheet reflecting end-of-the year balances. Then, calculate profit/loss and develop a cash flow statement