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4. Sources and Uses Statement Use the information below to prepare a statement of sources and uses for Little Feat. Little Feat Comparative Balance Sheets

4. Sources and Uses Statement

Use the information below to prepare a statement of sources and uses for Little Feat.

Little Feat

Comparative Balance Sheets

(in thousands)

2016

2015

Change

Cash

76

46

30

Accounts receivable

138

86

52

Inventory

206

166

40

Prepaid expenses

12

15

(3)

Building & equipment

272

246

26

Accumulated Depreciation

(76)

(54)

(22)

Total assets

628

505

123

Accounts payable

90

68

22

Income tax payable

16

18

(2)

Bonds payable

118

115

3

Common stock

200

180

20

PIC in excess

100

46

54

Retained earnings

104

78

26

Total liabilities & equity

628

505

123

Little Feat

Income Statement

For the year ending 12/31/2016

(in thousands)

Sales

416

Cost of goods sold

266

Depreciation expense

22

Other expenses

50

Interest expense

6

Income tax expense

18

362

362

Net Income

54

Other Items: Dividends paid

28

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