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2. The financial statements for the JHJ Book Store are as follows: INCOME STATEMENT 2013 Sales Cost of Books Sold Gross Profit Operating Expenses 200,000
2. The financial statements for the JHJ Book Store are as follows: INCOME STATEMENT 2013 Sales Cost of Books Sold Gross Profit Operating Expenses 200,000 Depreciation 100,000 Net Income Eram Operation 2,000,000 500,000 1,500,000 300,000 1.200.000 Net Income 1.200.000 BALANCE SHEET 2013 Cash Accounts Receivable Inventory Equipment Accumulated Depreciation Investment in Land Total Assets 2012 500,000 75.000 150,000 100,000 (25,000) 0 800.000 2013 950,000 25,000 450,000 400,000 (125,000) 400,000 2.100.000 Accounts Payable Long Term Bond Payable Total Liabilities 400,000 0 400.000 0 500,000 500.000 Common Stock Retained Earnings Total Stockholders 100.000 300,000 400,000 200,000 1,400,000 1600.000 800.000 21100.000 Total Liabilities + Stockholders Equity STATEMENT OF CASH FLOW TEMPLATE INDIRECT METHOD + NET CHANGE SOURCE AMOUNT USE AMOUNT ITEM ITEM 1. CASH FLOWS FROM OPERATIONS NET LOSS 25,000 NET INCOME DEPR EX DECREASES IN CURRENT ASSET INCREASES IN CURRENT ASSET INCREASES IN CURRENT UAB DECREASES IN CURRENT LIAB LOSS ON SALE OF LT ASSET Gain ON SALE OF LT ASSET TOTALS PARTI CASH PROCEEDS FROM SALE OF LONGTERM ASSET II. CASH FLOWS FROM INVESTMENTS PURCHASE OF LONGTERM ASSEST TOTALS PART II III. CASH FLOWS FROM FINANCING ISSUANCE OF STOCK PURCHASE OF TREASURY STOCK RECEIPT OF LT LOAN REPAYMENT OF LT LOAN PAYMENT OF DIVIDENDS TOTALS PART III IV. CHANGE IN CASH FLOW LESS ENDING CASH BALANCE BEGINNING CASH BALANCE
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