Compute the missing amounts in the following financial statements.
You may assume that accounts receivable relate only to credit sales and that accounts payable relate only to credit purchases of inventory. There were no sales of property and equipment during 2012 and any purchases of property and equipment were made using cash.
Balance Sheet at	31-Dec-11	31-Dec-12		Income Statement for Year Ending
Current assets
Cash	$18,000				31-Dec-12
Marketable securities	2,000	5,000		Sales revenue	140,000
Accounts receivable	8,000	10,000		Cost of sales	87,000
Merchandise inventory	41,000	58,000		Gross profit	53,000
Prepaid advertising	13,000	16,000		Expenses:
Total current assets	82,000	104,000		Wages
Property, plant and equipment (PPE), cost*	175,000			Advertising	5,000
Accumulated depreciation	-35,000	-63,000		Depreciation
Land	15,000			Amortization	2,000
Intangible assets		7,000		Total expenses	24,000
Total assets	$227,000	$282,000		Operating profit	29,000
				Interest	3,000
Current liabilities				Income (loss) before taxes	26,000
Accounts payable	$18,000			Tax expense
Wages payable	15,000	18,000		Net income	18,000
Interest payable		6,000
Dividends payable	2,000	4000
Taxes payable	5,000	1,000
Total current liabilities	48,000	50,000
Long-term debt	$46,000
Shareholders equity
Common stock	121,000	160,000
Retained earnings	22,000	32,000
Treasury stock		-12,000
Total liabilities and shareholders equity	$227,000	$282,000
Statement of Cash Flow for Year Ended	31-Dec-12
Cash flow from operating activities
Cash collections from customers
Cash payments for:
Inventory	-101,000
Wages	-3,000
Taxes	-12,000
Interest	-5,000
Advertising	-8,000
Net cash provided by operations	9,000
Cash flow from investing activities
(Purchases) sale of property, plant and equipment	-39,000
(Purchase) sale of marketable securities	-3,000
(Purchase) sale of land
Net cash provided by investing activities	-49,000
Cash flow from financing activities
Issuance (repayment) of long-term debt	6,000
Payment of dividend	-6,000
Issuance (repurchase) of common stock	39,000
(Purchase) sale of treasury stock	-2,000
Net cash provided by financing activities	37,000
Net cash flow	($3,000)