Complete the operating activities part of the statement of cash flows:(Round to the nearest dollar.
NOTE:
Input cash inflows as positive values and cash outflows as negative values.)
Complete the assets section of the common-sized balance sheet: (Round to one decimal place.) Common-sized balance sheet ASSETS Cash $ 160 6.1 % Accounts receivable 424 16.2 Inventory 621 23.7 Current assets 1,205 46.0 % $ 2,630 100.3 % Plant and equipment Less accumulated depreciation (1,214) -46.3 Net plant and equipment $ 1,416 54.0 % $ $ Total assets 2,621 100.0 % Complete the liabilities and owners' equity section of the common-sized balance sheet: (Round to one decimal place.) Common-sized balance sheet Complete the liabilities and owners' equity section of the common-sized balance sheet: (Round to one decimal place.) Common-sized balance sheet LIABILITIES AND OWNERS' EQUITY Accounts payable 158 6.0 % Notes payable--current (9%) 139 5.3 Current liabilities 297 11.3 % Bonds 600 22.9 % Owners' equity Common stock 900 34.3 % Retained earnings 824 31.4 Total owners' equity $ 1,724 65.8 % 2,621 Total liabilities and owners' equity 100.0 % Complete the operating activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: Input cash inflows as positive values and cash outflows as negative values.) Statement of Cash Flows Cash Flows from Operating Activities Net income 180 Adjustments Depreciation $ 254 Decrease in accounts receivable Increase in inventory Decrease in account payable Net cash provided by operating activities X Data Table - Knapp Inc. Income Statement for Years Ended 1/31/2017 and 1/31/2018 2017 2018 Sales $ 1,200 $ 1,462 700 852 Cost of goods sold $ 500 Gross profit $ 610 Selling, general and administrative expenses $ 30 40 220 250 214 254 Depreciation Operating income $ 250 356 50 56 Interest expense Net income before taxes $ 200 $ 300 80 120 Taxes (40%) $ 120 180 Net income Print Done Complete the assets section of the common-sized balance sheet: (Round to one decimal place.) Common-sized balance sheet ASSETS Cash $ 160 6.1 % Accounts receivable 424 16.2 Inventory 621 23.7 Current assets 1,205 46.0 % $ 2,630 100.3 % Plant and equipment Less accumulated depreciation (1,214) -46.3 Net plant and equipment $ 1,416 54.0 % $ $ Total assets 2,621 100.0 % Complete the liabilities and owners' equity section of the common-sized balance sheet: (Round to one decimal place.) Common-sized balance sheet Complete the liabilities and owners' equity section of the common-sized balance sheet: (Round to one decimal place.) Common-sized balance sheet LIABILITIES AND OWNERS' EQUITY Accounts payable 158 6.0 % Notes payable--current (9%) 139 5.3 Current liabilities 297 11.3 % Bonds 600 22.9 % Owners' equity Common stock 900 34.3 % Retained earnings 824 31.4 Total owners' equity $ 1,724 65.8 % 2,621 Total liabilities and owners' equity 100.0 % Complete the operating activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: Input cash inflows as positive values and cash outflows as negative values.) Statement of Cash Flows Cash Flows from Operating Activities Net income 180 Adjustments Depreciation $ 254 Decrease in accounts receivable Increase in inventory Decrease in account payable Net cash provided by operating activities X Data Table - Knapp Inc. Income Statement for Years Ended 1/31/2017 and 1/31/2018 2017 2018 Sales $ 1,200 $ 1,462 700 852 Cost of goods sold $ 500 Gross profit $ 610 Selling, general and administrative expenses $ 30 40 220 250 214 254 Depreciation Operating income $ 250 356 50 56 Interest expense Net income before taxes $ 200 $ 300 80 120 Taxes (40%) $ 120 180 Net income Print Done
