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CA Mopac Company la preparing its 198 financial statements. The following Information is given by the completed 198 comparative balance sheet and Income statement
CA Mopac Company la preparing its 198 financial statements. The following Information is given by the completed 198 comparative balance sheet and Income statement 25 330 Balance sheet Cash... Accounts receivable 19A 198 $12,000 $4,000 18,600 32,000 (8) Inventory.. 14,000 29,000 (4) Prepaid expense.. 2,400 1,400 (3) Capital assets (net) 62,000 65,000 Plant albe 15,000 JCL 6,000 Long-term investment 21,000 9,000 203 Total assets $130,000 $157,400 198 19A Wages payable ... Accounts payable Short-term note payable (Interest, $ 9,000 3,000 December 31) 8,000 Long-term note payable (Interest, December 31) 12,000 $ 15,000 (5) 1,200 (6) 4,000) 6,000(12) Bonde payable (Interest, December 31) 25,000 40,000 Common stock (6,500 and 6,575 shares) 70,000 71200 (10) Retained earnings 3,000 18,000 (1) Total Habilities and shareholders equity $130,000 $157,400 Income statement: Ravenues .. Depreciation expense. $150,000 (20,000) (4) (101,000) (4,000) Additional data: Remaining expenses Loss of sale of long-term Investment Net Income (14) a. Purchased capital asset for cash, $23,000.(73) $ 25,000/1 b. Sold long-term investment for $8,000 cash carrying value, $12,000. (2) c. Sold 75 shares of common stock at $16 cash per share. (10) d. Declared and paid a cash dividend of $10,000. Payment on short-term note, $4,000. f Payment on a long-term note, $6,000. (12) 00.(11) 2. Acquired plant site and issued bonds, $15,000 for full purchase price (the bonds were selling at par). Required: Prepare the SCF
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