Question
1. Complete Sanchez Corporation's financial statements by determining the missing amounts denoted by the letters. If necessary, round numbers up to the nearest whole dollar.
1. Complete Sanchez Corporation's financial statements by determining the missing amounts denoted by the letters. If necessary, round numbers up to the nearest whole dollar. (Round the tax calculation to the nearest thousand dollars. Use parentheses or a minus sign when entering a net decrease in cash) Question content area bottom Part 1 2019 2018 Income Statement (in Thousands) Revenues $15,100 Cost of goods sold 11,090 Other expenses 1,220 1,250 Income before income taxes 1,530 1,880 Income taxes (35%) 658 Net income Statement of Retained Earnings Beginning balance $2,770 Net income Dividends (96) (120) Ending balance Balance Sheet Assets Cash Property, plant, and equipment 1,587 1,306 Other assets 10,986 Total assets $13,527 Liabilities Current liabilities $5,650 Long-term debt 4,300 3,410 Other liabilities 25 170 Total liabilities $9,000 Stockholders' equity: Common stock $275 $275 Retained earnings Other stockholders' equity 160 150 Total stockholders' equity 4,297 Total liabilities and stockholders' equity Cash Flow Statement Net cash provided by operating activities $1,000 Net cash used in investing activities (220) (525) Net cash used in financing activities (550) (460) Increase (decrease) in cash (150) Cash at beginning of year 1,220 Cash at end of year
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