Question
Arrange the following financial information into the following. Comparative Balance sheets for 2010 vs. 2011. Comparative Income Statement from 2010 vs. 2011. Construct the 2011
Arrange the following financial information into the following.
Comparative Balance sheets for 2010 vs. 2011. Comparative Income Statement from 2010 vs. 2011. Construct the 2011 Statement of Cashflows using Items 1 and 2. This is the 2nd time that I have submitted this due to I received an incomplete answer the statement of cashflow was omitted.
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| 2010 BALANCE |
| 2011 BALANCE |
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Selling and Adminstrative Expenses | 650,000 |
| 600,000 | |||
Interest Expense | 54,000 |
| 52,000 | |||
Accounts Receivable (net) | 350,000 |
| 425,000 | |||
Taxes | 91,000 |
| 58,000 | |||
Notes Payable | 200,000 |
| 175,000 | |||
Capital paid in excess of par | 500,000 |
| 500,000 | |||
Cost of Goods Sold | 2,300,000 |
| 2,250,000 | |||
Cash | 120,000 |
| 95,000 | |||
Common Stock, $1 par value | 250,000 |
| 250,000 | |||
Sales | 3,600,000 |
| 3,300,000 | |||
Plant and Equipment | 2,500,000 |
| 2,800,000 | |||
Accumulated Depreciation | 850,000 |
| 950,000 | |||
Depreciation Expense | 90,000 |
| 100,000 | |||
Retained Earnings | 665,000 |
| 905,000 | |||
Bonds Payable, 2016 | 700,000 |
| 700,000 | |||
Accounts Payable | 375,000 |
| 475,000 | |||
Operating Income | 560,000 |
| 350,000 | |||
Accrued Expenses | 80,000 |
| 60,000 | |||
Investments | 150,000 |
| 100,000 | |||
Inventory | 450,000 |
| 550,000 | |||
Prepaid Expenses | 50,000 |
| 45,000 |
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