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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 e ricome sem Cash Flow Stmt Solve for the missing numbers. Prior Year $ MONOPOLY CORPORATION Comparative Balance Sheet December 31 Current Year Assets Cash $ 51,470 Accounts receivable Inventories | Prepaid rent 2,830 Property, plant, and equipment 228,500 Accumulated depreciation (56,800) Total assets 354,400 Liabilities and Stockholders' Equity Accounts payable $ 38,600 Accrued Liabilities 10,000 Notes payable (long-term) 131,500 Contributed capital 53,000 Retained earnings 121,300 Total liabilities and stockholders' equity $ 354,400 32,200 32,300 70,300 2,300 203,000 (41,500) 298,600 $ $ 34,300 12,300 153,000 26,500 72,500 298,600 $ 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 Income Statement Year Ended December 31 Sales $ 489,500 Expenses Cost of goods sold $ 293,000 95,500 Selling, general and administrative expenses Depreciation expense Interest expense 9,300 Income taxes 430,400 59,100 Net income $ Complete this question by entering your answers in the tabs below. Balance Sheet Income Stmt Cash Flow Stmt 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 $ 59,100 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 15,300 Change in current assets and current liabilities Accounts Receivable (4,300) Inventories $ (21,500) Prepaid Rent Accounts Payable $ 4,300 Accrued Liabilities Net cash provided by (used in) operating activities Cash flows from investing activities Purchase of property, plant, and equipment (25,500) Net cash provided by (used for) investing activities (25,500) Financing activities Additional capital contributed by stockholders Payments on long-term debt (21,500) Payment of cash dividends Net cash provided by (used for) financing activities Increase in cash and cash equivalents 19,270 Cash and cash equivalents, beginning of period 32,200 Cash and cash equivalents, end of period $ 51,470
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