(22 questions, 35 marks) Milo Inc. had the following account balances at December 31, 2021: Account Name Amount Dividends $2,750 Prepaid expenses 1,800 Interest expense 1,150 Website expense 800 Accounts receivable 31,325 Deferred revenue 1,500 Income tax expense 5,275 Collections from customers 44,375 Purchase of intangibles 1,310 Payments to suppliers 41,840 Car expense 2,125 Retained earnings (beginning of year) 10,235 Payment of dividends 2.750 Rent expense 2,400 Supplies expense 1,500 Cash (beginning of year) 37.625 Service revenue 33,150 Cash received from debt 15,000 Prepaid rent 1,200 Supplies 1,875 Business licence 60 Cash (end of year) 52,350 Income tax payable 1,200 Owner's capital 17,500 Website design 1.250 Entertainment expense 575 Contributions by owners 1,250 Accounts payable 27,850 Bank loan payable, due in 2025 15,000 Using the above information create the following: income statement, statement of retained earnings, balance sheet and the statement of cash flows. Then use the information to answer the following questions, 81 84 87 88 89 Question 60 (1 point) Saved Question 61 (2 points) What is Total Operating Expenses on this company's single step income statement? Question 62 (2 points) What is Profit before Income Tax (also called Income before Income Tax) on this company's single step income statement? Question 63 (2 points) What is Profit (also called Net Income) on this company's single step income statement? Question 70 (2 points) What is total assets on this company's balance sheet? A/ Question 71 (2 points) What is total current liabilities on this company's balance sheet? Question 74 (2 points) What is total equity on this company's balance sheet? Question 77 (2 points) What is total cash flow from investing activities on this company's statement of cash flows? If the amount is an INFLOW enter the amount with a '+' sign. For example, inflow of $12,682 enter as +12682 If the amount is an OUTFLOW enter the amount with a sign. For example, outflow of $10,485 enter as - 10485 A/ Question 78 (2 points) What is total cash flow from operating activities on this company's statement of cash flows? If the amount is an INFLOW enter the amount with a 't' sign. For example, inflow of $12,682 enter as +12682 If the amount is an OUTFLOW enter the amount with a sign. For example, outflow of $10,485 enter as - 10485 A Question 79 (2 points) What is total cash flow from financing activities on this company's statement of cash flows? If the amount is an INFLOW enter the amount with a 'sign. For example, inflow of $12.682 enter as +12682 If the amount is an OUTFLOW enter the amount with a sign. For example, outflow of $10,485 enter as -10485 Question 80 (2 points) What is the net change in cash on this company's statement of cash flows? If the amount is an INFLOW enter the amount with a '+' sign. For example, inflow of $12,682 enter as +12682 If the amount is an OUTFLOW enter the amount with a '- sign. For example, outflow of $10,485 enter as - 10485 A
