Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

complete set of financial statements using the adjusted trial balance presented including the following: Income statement, comprehensive income statement, statement of shareholders's equity, classified balance

complete set of financial statements using the adjusted trial balance presented including the following: Income statement, comprehensive income statement, statement of shareholders's equity, classified balance sheet and statement of cash flow.

Raven Inc.
Adjusted Trial Balance
Quarter ended 3/31/24
12/31/23 3/31/24
DR CR DR CR
Cash $ 11,575 $ 9,489
Cash equivalents $ 14,338 $ 35,282
Marketable securities $ 40,388 $ 41,656
Accounts receivable, net $ 23,186 $ 18,077
Inventories $ 3,956 $ 4,988
Non-trade receivables $ 25,809 $ 18,904
Other current assets $ 12,087 $ 12,432
Marketable securities $ 170,799 $ 158,608
Property, plant and equipment $ 41,304 $ 39,597
Accumulated depreciation
Other non-current assets $ 22,283 $ 34,686
Accounts payable $ 55,888 $ 44,293
Other current liabilities $ 32,687 $ 36,703
Deferred revenue $ 7,543 $ 5,546
Commercial paper $ 11,964 $ 11,969
Term debt $ 8,784 $ 9,772
Deferred revenue, long-term $ 2,797 $ -
Notes payable, long-term $ 93,735 $ 92,989
Long-term taxes payable $ 33,589 $ 30,948
Other noncurrent liabilities $ 15,325 $ 23,607
Common stock $ 40,201 $ 40,970
Retained earnings $ 8,384 $ 70,400
Dividends $ 9,766
Accumulated other comprehensive income $ 2,670 $ 3,454
Net sales $ 265,595 $ 84,310
Cost of sales $ 163,756 $ 52,279
Research & development $ 14,236 $ 3,902
Selling, general & administrative $ 16,705 $ 4,783
Interest & Dividend income $ 1,452 $ 1,307
Interest expense $ 734 $ 890
Realized loss on investments $ 79
Other income (expense) $ 38 $ 222
Income tax expense $ 13,216 $ 3,896
Unrealized gain on marketable securities $ 1,015 $ 176
Loss on foreign currency translation $ 269 $ 94
Unrealized loss on derivatives $ 194 $ 350
$ 578,251 $ 578,251 $ 453,212 $ 453,212

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer

12th Edition

978-0073526706, 9780073526706

More Books

Students also viewed these Accounting questions