ACC 222 Exam Four Take Home Part One Prepare a cash flow statement for Attleboro Group: Additional Information: 1. A plant asset was purchased for $22,000, cash 2. Land was purchased for $25,400 cash 3. $8,500 of common stock was issued for cash 4. $13,000 of Notes payable were paid off in cash 5. Cash dividends of $28, 200, were paid Net Sales Revenue Cost of Goods Sold ATTLEBORO GROUP, INC. Income Statement Year Ended December 31, 2024 Gross Profit Operating Expenses: Salaries Expense Depreciation Expense Other Operating Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue Interest Expense Total Other Income and (Expenses) Net Income Before Income Taxes Income Tax Expense Net Income $441,000 205,400 235,600 $ 76,300 15,300 49,600 141,200 94,400 11,500 (24,400) (12,900) 81,500 16,200 $ 65,300 ATTLEBORO GROUP, INC. Comparative Balance Sheet December 31, 2024 and 2023 Current Assets: Cash Accounts Receivable Merchandise Inventory Long-term Assets: Land Plant Assets 2024 2023 Assets $ 14,000 42,000 $ 15,500 43,700 96,800 93,300 Accumulated Depreciation-Plant Assets Total Assets Current Liabilities: Accounts Payable 36,400 11,000 121,250 112,850 (20,350) (18,650) $290,100 $257,700 Liabilities $ 24,500 $ 26,000 23,900 22,600 Accrued Liabilities Long-term Liabilities: Notes Payable Total Liabilities 56,000 69,000 104,400 117,600 Stockholders' Equity Common Stock, no par 129,500 121,000 Retained Earnings 56,200 19,100 Total Stockholders' Equity 185,700 140,100 Total Liabilities and Stockholders' Equity $290,100 $257,700