Beta Corp		ANALYZE CHANGE
Account Name	first yr(2016)	debit	credit	2nd year(2017)
Cash	61,550			123,450
AR	80,750			77,100
Inventory	250,700			240,600
Prepaid Expenses	17,000			15,100
Investments
Equipment	200,000			262,250
Acc dep Equipment	(95,000)			(110,750)
Intangible assets
Total Assets	515,000			607,750
AP	102,000			17,750
Short term notes payable	10,000			15,000
Long term Notes payable	77,500			100,000
common stock	200,000			215,000
Paid in capital in excess of par				30,000
Retained earnings	125,500			230,000
TOTAL LIABILITIES AND OE	515,000	-	-	607,750

Pr B Group Students staterment of Cash Flow Probiem itse. Beta CORPORATION Comparative Balance Sheets December 31, 2017 and 2016 Indirect method 2017 2016 Beta Assets Cash.. Accounts receivable Inventory Prepaid expenses Total current assets. Equipment. Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Short-term notes payable. Total current liabilities... Long-term notes payable Total liabilities .. $123,450 77,100 240,600 15,100 456,250 262,250 [110.750) $607,750 $ 61,550 80.750 250,700 17,000 410,000 200,000 195,000) $515,000 CORPORATION Income Statement For Year Ended December 31, 2017 $1,185,000 595,000 590,000 $ 17,750 15,000 32,750 100.000 132.750 $102,000 10,000 112,000 77,500 189,500 Sales .. Cost of goods sold Gross profit... Operating expenses Depreciation expense Other expenses Total operating expenses. $ 38,600 362,850 401,450 188,550 215,000 200,000 Equity Common stock, $5 par Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity 30,000 230,000 $607.750 0 125,500 $515,000 Other gains (losses Loss on sale of equipment. Income before taxes. Income taxes expense Net income 12.100) 186,450 28,350 $ 158,100 cash. receivedlo Additional Information on Year 2017 Transactions a. The loss on the cash sale of equipment was $2,100 (details in b). b. Sold equipment costing $51,000, with accumulated depreciation of $22,850, for cash. You need to calculate c. Purchased equipment costing $113,250 by paying $43,250 cash and signing a long-term note payable for the balance. d. Borrowed $5,000 cash by signing a short-term note payable. e. Paid $47,500 cash to reduce the long-term notes payable. f. Issued 3,000 shares of common stock for $15 cash per share. g. Declared and paid cash dividends of $53,600