Cashflow Assignment $-$ Hamilton Company

Comparative Balance Sheets

December $31,2013$ and December $13,2014$

Assets $20132014$ Difference

Cash $611,200515,200(96,000)$

Accounts Receivable $1,507,6001,467,600(40,000)$

Inventory $1,610,0001,930,000320,000$

Prepaid Expenses $53,60029,600(24,000)$

Long term investments $880,000880,000$

Land $642,400722,40080,000$

Building $1,840,0002,400,000560,000$

Accumulated Depr $-$ Building $(320,000)(480,000)(160,000)$

Equipment $960,000960,000$

Accumulated Depr $-$ Equipment $(112,000)(232,000)(120,000)$

Patents $80,00040,000(40,000)$

Total Assets $7,752,8008,232,800480,000$

Liabilities & Stockholder's Equity

Accounts Payable $1,331,600951,600(380,000)$

Notes Payable $($Current$)320,00080,000(240,000)$

Accrued Liabilities $31,60011,600(20,000)$

Mortgage Payable $1,600,0002,160,000560,000$

Bonds Payable $1,520,0002,000,000480,000$

Common Stock $$10$ par value $2,600,0002,600,000$

Additional paid in capital $160,000160,000$

Retained Earnings $389,600509,600120,000$

Treasury Stock $(200,000)(240,000)(40,000)$

Total Liabilities & S$/$E $7,752,8008,232,800480,000$

Additional information:

$1.$ Net income $$192,000$

$2.$ Building depreciation $$160,000$

$3.$ Equipment depreciation $$120,000$

$4.$ Sold investments for $$300,000$ on which there was a gain of $$68,000$

$5.$ Paid $$80,000$ on the mortgage

$6.$ Patent amortization $$40,000$

$7.$ Issued $$480,000$ of long term bonds

$8.$ Issued a note payable $$120,000$

$9.$ Repaid a note in the amount of $$360,000$

$10.$ Land and building purchased with a mortgage $$640,000$

$12.$ Paid dividends of $$72,000$

$13.$ Purchased investments $$232,000$

$14.$ Purchased treasury stock in the amount of $$40,000$