Question
1. Complete Weaverton 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 Weaverton 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 $16,175 Cost of goods sold 11,020 Other expenses 1,250 1,220 Income before income taxes 1,530 1,840 Income taxes (35%) 644 Net income Statement of Retained Earnings Beginning balance $2,670 Net income Dividends (98) (140) Ending balance Balance Sheet Assets Cash Property, plant, and equipment 1,487 1,316 Other assets 12,060 Total assets $14,466 Liabilities Current liabilities $5,610 Long-term debt 4,450 3,360 Other liabilities 995 1,140 Total liabilities $9,400 Stockholders' equity: Common stock $450 $450 Retained earnings Other stockholders' equity 200 180 Total stockholders' equity 4,356 Total liabilities and stockholders' equity Cash Flow Statement Net cash provided by operating activities $875 Net cash used in investing activities (300) (575) Net cash used in financing activities (510) (500) Increase (decrease) in cash (110) Cash at beginning of year 1,290 Cash at end of year
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