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Condensed financial data of Monopoly Corporation appear below: A cash dividend was declared and paid in full to stockholders during the year. Required: Solve for
Condensed financial data of Monopoly Corporation appear below: A cash dividend was declared and paid in full to stockholders during the year. Required: Solve for the missing numbers. Complete this question by entering your answers in the tabs below. Balance Sheet Income Stmt Cash Flow Stmt Solve for the missing numbers. MONOPOLY CORPORATION Comparative Balance Sheet December 31 Current Year Prior Year Assets Cash $ 56,450 $ Accounts receivable 35,000 32,500 70,500 2,500 205,000 (42,500) 303,000 Inventory Prepaid rent 3,050 Property, plant, and equipment 231,500 Accumulated depreciation (58,000) Total assets $ 363,000 $ Liabilities and Stockholders' Equity Accounts payable $ 39,000 $ Accrued liabilities 10,000 Notes payable (long-term) 132,500 Contributed capital 55,000 Retained earnings 126,500 Total liabilities and stockholders' equity $ 363,000 $ 34,500 12,500 155,000 27,500 73,500 303,000 Balance Sheet Income Stmt Cash Flow Stmt Solve for the missing numbers. MONOPOLY CORPORATION Income Statement Year Ended December 31 Sales $ 497,500 Expenses Cost of goods sold Selling, general, and administrative expense Depreciation expense 295,000 96,500 Interest expense 9,500 Income taxes 434,000 63,500 Net income $ SLITIL Solve for the missing numbers. (Enter any deductions and cash outflows as a negative value.) MONOPOLY CORPORATION Cash Flow Statement Year Ended December 31 Cash flows from operating activities Net income $ 63,500 Adjustments to reconcile net income to net cash provided by operating activities: 15,500 Depreciation Changes in current assets and current liabilities Accounts Receivable Inventory Prepaid Rent Accounts Payable Accrued Liabilities (4,500) (22,500) $ $ 4,500 (26,500) (26,500) Net cash provided by (used in) operating activities Cash flows from investing activities Purchase of property, plant, and equipment Net cash provided by (used in) investing activities Financing activities Additional capital contributed by stockholders Payments on long-term debt Payment of cash dividends Net cash provided by (used in) financing activities Increase in cash and cash equivalents Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period (22,500) 21,450 35,000 56,450 $
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