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Both the cash and retained earnings have a question mark. How do I solve this? eSupplies Corporation began operations on January 1, 2011, as an
Both the cash and retained earnings have a question mark. How do I solve this? eSupplies Corporation began operations on January 1, 2011, as an online retailer of computer software and hardware. The following financial statement data were taken from eSupplies' records at the end of its first year of operations, December 31, 2011. Accounts payable $ 20,000 Accounts receivable 60,000 Capital stock 252,000 Cash ? Cash payments for operating activities 657,000 Cash receipts from operating activities 690,000 Cost of sales 435,000 Dividends 30,000 Income tax expense 53,000 Income taxes payable 8,000 Interest expense 2,000 Inventories 115,000 Note payable (due in 2017) 50,000 Property, plant, and equipment 265,000 Retained earnings ? Sales 750,000 Selling and administrative expense 80,000
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