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cash flow need to make a cash flow statement for the picture posted indirect method 128 The Biz Business Statement of Income For the Year
cash flow
need to make a cash flow statement for the picture posted
indirect method
128 The Biz Business Statement of Income For the Year Ended December 31, 2019 The Biz Business Balance Sheet December 31, 2012 2018 Sales Cost of Goods Sold Gross Margin $ 600,000 300,000 300,000 Assets Current Assets Cash Accounts Receivable Inventory Total Current Assets $ 160,000 $100,000 80,000 50,000 70.000 90.000 310,000 240,000 6.000 200,000 Operating Expenses Wage Expense $ 55,000 Rent Expense 24,000 Depreciation Expense 10,000 Utilities Expense Total Operating Expenses Income from Operations Other Revenues & (Expenses) Interest Revenue 5,000 Interest Expense (10.000) Total Other Revenues & (Expenses) Income Before Taxes Tax Expense 95.000 205,000 320,000 40,000 Property and Equipment Equipment Vehicles Less: Accumulated Depreciation Net Property & Equipment Other Assets Security Deposits Total Assets (50.000 310,000 (40.000) 160,000 (5,000) 200,000 60.000 1.000 2.000 5621.000 $1402.000 Net Income $140.000 Earnings Per Share S2.55 $ 9,000 $5,000 8,500 10,000 48,000 62,000 7,500 5,000 26.086 99,086 20.000 102,000 Liabilities Current Liabilities Accounts Payable Wages Payable Taxes Payable Interest Payable Current Portion of Long- Term Debt Total Current Liabilities Long-Term Debt Contract Payable Note Payable Total Long-Term Debt Total Liabilities Owners' Equity Common Stock ($1 cach) Retained Earnings Total Owners' Equity Total Liabilities & Owners' Equity 28,914 130.000 158,914 258,000 80.000 80.000 182,000 60,000 303,000 363.000 50,000 170.000 220.000 5 621,000 $1402.000 The company purchased a vehicle on December 31, 2019 for $40,000. The company made a down payment of $5,000 and financed the balance at 7% payable in five equal annual payments including interest of $8,536.17. The note payable is payable at $20,000 plus interest at 10% on June 30th of each year Step by Step Solution
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