Can anyone please help me with this problem!!!
work mode This shOS WlatsCome Return to questi Malco Enterprises issued $22,000 of common stock when the company was started. In addition, Malco borrowed $48,00 from a local bank on July 1, Year 1. The note had a 5 percent annual interest rate and a one-year term to maturity. Malco Enterprises recognized $85.700 of revenue on account in Year 1 and $97.200 of revenue on account in Year 2. Cash collections of accounts receivable were $73,300 in Year 1 and $83.500 in Year 2. Malco paid $49,800 of other operating expenses in Year 1 and $57.000 of other operating expenses in Year 2. Malco repaid the loan and interest at the maturity Required Based on this information given above, record the events in the accounting equation and answer the following questions Enter any decreases to account balances with a minus sign.) Answer is not complete. MALCO ENTERPRISES Effect of Events on the Financial Statements Balance Sheet Lia Stkholders Equity Common toc Accounts Notes Interest Payable Cash Com. Stock 22,000 48,000 oan Rev 85,700 85,700 Coll. AR73300(73,300) Op Exp49.800) (49,800) C Return to ques Com. Stock 22,000 Loan .000 [ 1 48,0000 85,700 73.00(73.300 85,700 Coll AR Op. Exp. Coll. AR |(49,800) | | (49 800) Int. Acc. ,200 (1.200) Bal 12,40048,000+ 22,000+ 34,700 22,00034700 (57,000) Bal 93,500 12,400 48,000 1,200 97.200 97.200 Coll. AR 183,50001 (83.500) Op. Exp. Int. Acc. Pay Int&(6.580) | (1200) (48,000) (1.200) 211620(71,10000 (1.200) 73,700 Bal. 022,000 hat amount of interest expense would Malco report on the Year 1 income statement? y work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate com Return to c b. What amou c. What amount of total liabilities would Malco report on the December 31, Year 1, balance sheet? d. What amount of retained earnings would Malco report on the December 31, Year 1, balance sheet? e. What amount of net cash flow from financing activities would Malco report on the Year 1 statement of cash flows? f. What amount of interest expense would Malco report on the Year 2 income statement? g. What amount of net cash flow from operating activities would Malco report on the Year 2 statement of cash h. What amount of total assets would Malco report on the December 31, Year 2, balance sheet? . What amount of net cash flow from investing activities would Malco report on the Year 2 statement of cash flows? j. If Malco Enterprises paid a $3,200 dividend during Year 31, Year 2, balance sheet? nt of net cash flow from operating activities would Malco report on the Year 1 statement of cash flows? flows? 2, what retained earnings balance would it report on the D a. Interest expense b. Net cash flow from operating activities c. Total liabilities d. Retained earnings e. Net cash flow from financing activities f Interest expense g. Net cash flow from operating activities h. Total assets iNet cash flow from investing activities Retained earnings balance
