12-31-07 12-31-08 Assets Current Assets Cash Credit card receivables Accounts receivable Inventory Marketable securities Prepaid expenses Total Current Assets Property, Plant & Equipment Land Building Accum. depreciation, building Furniture & equipment Accum. Depreciation, furniture & equipment Total Property, Plant & Equipment Total Assets $ 4,100 4,700 1,200 3,000 8,000 1.200 $ 22,200 $ 5,200 5,500 700 3,600 7.000 1,500 $ 23,500 $ $ 30,000 150,000 ( 41,900) 22,700 (15,400) $145,400 $167,600 $ 30,000 150,000 (50,200) 25,400 19.100) ) S136,100 $159,600 $ 6,900 1,400 2,000 11,500 $ $ 21,800 $ 7,000 1,700 1,500 10,400 $ 20,600 Liabilities & Stockholders' Equity Current Liabilities Accounts payable Accrued expenses payable Income taxes payable Current portion of mortgage payable Total Current Liabilities Long-term Liabilities Long-term mortgage payable Total Liabilities Stockholders' Equity Capital stock, common Retained earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity 100,000 $121,800 89,600 $110,200 23,000 22,800 $ 45,800 $167,600 $ 23,000 26,400 $ 49,400 $159,600 From this information, prepare a statement of changes to individual working capital accounts. P10.6 With the balance sheet information from P10.5, and the additional infor- mation from the income statement and statement of retained earnings, pre- pare the motel's statement of changes to working capital for the year end- ing December 31. 0008. , Copyrighted materia /13/05 3:43 PM Page 458 -58 CHAPTER 10 STATEMENT OF CASH FLOWS AND WORKING CAPITAL ANALYSIS Income Statement for Year Ended December 31, 0007 Sales revenue $204.900 Operating costs (173,800) Income before depreciation and interest and tax 31.100 Depreciation, building ( ( 8,300) Depreciation, furniture and equipment ( 3,700) Income before interest and tax $ 19,100 Interest ( 10.800) Operating income (before tax) $ 8,300 Income tax ( 1.500) Net income $ 6,800 Statement of Retained Earnings For Year Ended December 31, 0007 Retained earnings, January 1, 0007 Add: Net income for year Subtotal Deduct: Dividends paid Retained earnings, December 31, 0007 $ 22,800 6,800 $ 29,600 (3,200) $ 26,400 P10.7 Referring to the preceding P10.5 and P10.6 that presented a comparative balance sheet, income statement, and a statement of retained earnings, com- plete a statement of cash flows in good form using the indirect method