Question
Balance Sheets at December 31 Year 2 Year 1 Cash $2,800 $12,000 Accounts receivable 27,000 24,000 Inventory 19,600 9,000 Prepaid insurance 2,400 1,800 Equipment, net
Balance Sheets at December 31
Year 2
Year 1
Cash
$2,800
$12,000
Accounts receivable
27,000
24,000
Inventory
19,600
9,000
Prepaid insurance
2,400
1,800
Equipment, net
75,000
76,000
Total assets
$126,800
$122,800
Accounts payable
$26,200
$25,200
Wages payable
14,800
16,000
Common stock
64,000
62,000
Retained earnings
21,800
19,600
Total liabilities & shareholders' equity
$126,800
$122,800
Income Statement for Year 2
Sales
$209,000
Cost of goods sold
99,000
Depreciation expense
11,400
Other operating expenses
55,600
Income taxes expense
12,000
Net income
$31,000
How much is the company'scash flow for financing activities?
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Financial Statements
Authors:
1st Edition
1423223853, 9781423223856
