1. During its first year of operations, Widgets Incorporated reported Sales Revenue of $388,600 but collected only $310,000 from customers. At the end of the year, Accounts Receivable equal:

The statement of cash flows shows the following information:

Cash provided by operating activities of	$	16,700
Cash used by investing activities of	$	8,200
Cash used by financing activities of	$	2,700

2.

The beginning cash was $14,400. What is the amount of cash at the end of the period?

$31,100.

$20,200.

$42,000.

$8,600.

3.

A company started the current year with assets of $712,000, liabilities of $356,000 and common stock of $212,000. During the current year, assets increased by $412,000, liabilities decreased by $56,000 and common stock increased by $287,000. There was no payment of dividends to owners during the year.

What was the amount of the change in total stockholders' equity during the year?

$287,000 increase

$144,000 increase

$231,000 increase

$468,000 increase

The table shows financial data for Purrfect Pets, Inc. as of June 30, Year 3.

Accounts Receivable	$	419,500
Retained Earnings		118,200
Inventories		58,430
Other Assets		69,430
Accounts Payable		349,500
Equipment		118,800
Cash		732,900
Common Stock		662,400
Notes Payable		268,960

Prepare a balance sheet using these data.

A list of Year 3 revenues and expenses for Green Thumb, Inc. is provided below.

Advertising and Promotion Expenses	$	264,100
Income Tax Expense		56,660
Interest Expense		44,060
Other Expenses		124,000
Other Selling and Administrative Expenses		352,400
Sales Revenue		1,873,300
Salaries and Wages Expense		726,400
Calculate the net income for the Green Thumb, Inc. for Year 3 Prepare a statement of retained earnings for Green Thumb, Inc. for Year 3. Assume the company had retained earnings of $163,600 as of January 1, Year 3, and paid out $46,160 in dividends during Year 3.