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All the requirned information is here! Please complete the entire statment of cashflow, readjusted journal entries, and the T account entries Statement of Cash Flows
All the requirned information is here!
Please complete the entire statment of cashflow, readjusted journal entries, and the T account entries
Statement of Cash Flows For the year ended December 31, 2022 CRUZ, INC. Income Statement For the year ended December 31, 2022 CRUZ, INC. Comparative Balance Sheets December 31 \begin{tabular}{|c|c|c|c|} \hline & 2022 & 2021 & Change \\ \hline \multicolumn{4}{|l|}{ Assets } \\ \hline Cash & 94,800 & 24,000 & \\ \hline Accounts Receivable, net & 41,000 & 51,000 & \\ \hline Inventory & 85,800 & 95,800 & \\ \hline Prepaid expenses & 5,400 & 4,200 & \\ \hline Total Current Assets & 227,000 & 175,000 & \\ \hline Furniture & 109,000 & 119,000 & \\ \hline Accum. Depreciation-Furniture & (17,000) & (9,000) & \\ \hline Total Assets & 319,000 & 285,000 & \\ \hline \multicolumn{4}{|l|}{ Liabilities } \\ \hline Accounts Payable & 15,000 & 21,000 & \\ \hline Wages Payable & 9,000 & 5,000 & \\ \hline Income Taxes Payable & 1,400 & 2,600 & \\ \hline Total Current Liabilities & 25,400 & 28,600 & \\ \hline Long-term notes payable & 29,000 & 69,000 & \\ \hline Total Liabilities & 54,400 & 97,600 & \\ \hline \multicolumn{4}{|l|}{ Equity } \\ \hline Common stock, \$5 par & 229,000 & 179,000 & \\ \hline Retained Earnings & 35,600 & 8,400 & \\ \hline Total Equity & 264,600 & 187,400 & \\ \hline Total Liabilities and Equity & 319,000 & 285,000 & \\ \hline \multicolumn{4}{|c|}{CRUZ,INC.IncomeStatementFortheyearendedDecember31,2022} \\ \hline Sales & & 488,000 & \\ \hline Cost of goods sold & & 314,000 & \\ \hline Gross profit & & 174,000 & \\ \hline \multicolumn{4}{|l|}{ Operating expenses: } \\ \hline Depreciation expense & 37,600 & & \\ \hline Other operating expenses & 89,100 & & \\ \hline Total operating expenses & & 126,700 & \\ \hline Income before taxes & & 47,300 & \\ \hline Income taxes expense & & 17,300 & \\ \hline Net income & & 30,000 & \\ \hline \end{tabular}Step by Step Solution
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