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mount of past earnings are available for distribution The Balance Sheet 77 ble for distribution to The Foxtail's owners at 7. What amount of the end of 20X2? Problem 15 balance sheets for Melton Corporation for the years ended December Below are the modified balan 31, 20X1 and 20X2 Assets Cash 20X1 $ 433 20X2 $ 38 101 348 218 595 2,696 (1,000) 52 $ 3,443 50 430 283 373 5.998 (1,300) 1,355 $ 7,577 517 6LS 150 Marketable securities Accounts receivable, net Inventory Investments Property and equipment Acc. Depreciation Other assets Total Assets Liabilities and Stockholders' Equity Liabilities: Accounts payable Income taxes payable Dividends payable Current portion-LTD Long-term debt Deferred income taxes Total Liabilities Stockholders' Equity Common stock, 193 and 249 shares outstanding, respectively Additional paid-in capital Retained earnings Treasury shares, at cost Total Stockholders' Equity Total Liabilities and Stockholders' Equity 100 300 150 920 202 2,189 200 200 2,406 762 4,366 642 494 -0- 902 (142) 1.254 $ 3,443 1,745 935 (111) 3,211 $ 7,577 Additional Information: During 20x2 marketable securities, which cost SX, were sold for $200 resulting in gain from the sale of $150. Assume $50 of treasury stock was purchased during 20x2. Assume Melton did not retire any of their common stock but sold the increase in the appropriate accounts. Assume $450 of dividends were declared during 20X2. their common stock but sold stock reflected by Based on the above balance sh itional information answer the questions below: 1. What were the total were the total current assets at the beginning of 20X1? 2. The total net book value of proper We of property and equipment at the end of 20X2 was 78 Chapter 2 3. What is meant by "net" after accounts receivable? 4. How much treasury stock was sold during 20X2? 5. What was the amount of money raised by selling common stock during 20xm, 6. What was the amount of long-term debt borrowed during 20X2?! 7. Assume the increases in common stock and additional paid-in capital relate si the sale of common stock during 20X2. What was the average selling price per of common stock? 8. What was the net working capital at the end of 20X2? 9. What amount of dividends were paid during 20X2? 10. What was the net income for 20X2