BALANCE SHEET Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets 2004 86,060 128,500 308,980 9,590 2005 18,610 201,670 302,080 9,870 2006 1.520 338,690 274,630 9.990 533,130 532,230 624,830 34,350 32,350 60,702 Fixed Assets: Land Automobiles Building Equipment Subtotal Less: Accumulated depreciation Net Fixed Assets Other Assets Toral long-term assets TOTAL ASSETS 20,000 54,350 60,880 47,850 122.940 3.990 235.660 34,660 201,000 30,000 231,000 855,830 93,052 10,300 82,752 31.000 113,752 54,350 30,000 84,350 617,480 645,982 Liabilitites Accounts payable Accrued liabilities Total current liabilities Bank Loan Mortgage loan Total long-term liabilities 2006 502,500 15,760 518,260 2004 184,640 15,790 200.430 177,140 196,510 373,650 2005 290,740 16,870 307.610 138,132 176,510 314,642 255,840 255,840 Equity Common Stock Retained Earnings 2004 100,000 (56.600 2005 100,100 (76270 2006 100,100 18.2.2011 4 MULT595 Total long-term liabilities 373,650 314,642 255,840 Equity Common Stock Retained Earnings Total Equity TOTAL LIABILITIES and EQUITY 2004 100,000 (56,600) 43,400 617,480 2005 100,100 (76,370) 23,730 645,982 2006 100.100 (18,370) 81,730 855,830 INCOME STATEMENT Net Sales COGS Gross Profit 2004 930,110 644,190 285,920 2005 1,600,000 1,171,760 428,240 2006 2,066,820 1,476,840 589,980 190,330 19,430 29,100 76,430 Operating Expenses Wages and Commissions Rent General selling expenses General admin expenses Depreciation Total Operating expenses Interest Exp Net Inc before tax Income Tax 253,910 22,200 27,560 104,720 10,300 418,690 29,220 (19,670) 306,170 11,100 23,860 132,850 24,360 498,340 33,450 58,190 315,290 55,230 (84,600) (84,600) (19,670) 58,190 Net Inc (loss) Outflow of 10,000 Question 4 (5 points) Listen Using the tables in Question 1, construct the CF statement between 2004-2005. What is the cash flow from prepaid Ixpenses? Outflow of 280 Inflow of 280 Inflow of 2,720 Outflow of 2,720