4:24 1 LTE e bbhosted.cuny.edu Questions 20 through 23 are based on the data shown below Putnam, Inc. related to the statement of cash flows for Putnam, Inc: Comparative Balance Sheets 2011 Current Assets: Cash S 690,000 540,000 (net) 1,560,000 ,080,000 Merchandise Inventory 1,950,000 1,260,000 Prepaid Expenses 351,000 315000 Total Current Assets 4.551,000 3.195,000 225,000 Long-Term Investments Plant Assets: Equipment 2,190,000 1,440,000 Accumulated Depreciation450,000) Total Plant Assets 1.740,000 1170,000 Total Assets S6.516.000 $4.365.000 Equities: Current Liabilities: Accounts Payable $1,275,000 $1,095,000 Accrued Expenses 309,000 282,000 Dividends Payable201.00 Total Liabilities 1,785,000 377,000 Long-Term Notes Payable 825,000 Stockholders' Equity: Common Stock 3,000,000 2,400,000 Retained Earnings 906.000 588,000 Total Equities S6.SI6.000 .365.000 Putnam, Inc. Comparative Income Statements Net Credit Sales $7,020,000 S3,753,000 Cost of Goods Sold 3.915.000 1881.000 Gross Profit ,105,000 ,872,000 Expenses (including Income Tax) -2.586000 Net Income S519,000 498,000