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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. (Enter any deductions and cash outflows as a negative value.)

MONOPOLY CORPORATION
Comparative Balance Sheet
December 31
Current Year Prior Year
Assets
Cash $24,080 $16,800
Accounts receivable 31,200
Inventories 69,200
Prepaid rent 1,620 1,200
Property, plant, and equipment 212,000 192,000
Accumulated depreciation (50,200) (36,000)
Total assets $307,100 $274,400
Liabilities and Stockholders' Equity
Accounts payable $36,400 $33,200
Accrued Liabilities 10,000 11,200
Notes payable (long-term) 126,000 142,000
Contributed capital 42,000 21,000
Retained earnings 92,700 67,000
Total liabilities and stockholders' equity $307,100 $274,400

MONOPOLY CORPORATION
Income Statement
Year Ended December 31
Sales $445,500
Expenses
Cost of goods sold $282,000
Selling, general and administrative expenses 90,000
Depreciation expense
Interest expense 8,200
Income taxes 410,600
Net income $34,900

MONOPOLY CORPORATION
Cash Flow Statement
Year End December 31
Cash flows from operating activities
Net income $34,900
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation 14,200
Change in current assets and current liabilities
Accounts Receivable (3,200)
Inventories $(16,000)
Prepaid Rent
Accounts Payable $3,200
Accrued Liabilities
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant, and equipment (20,000)
Net cash provided by (used for) investing activities (20,000)
Financing activities
Additional capital contributed by stockholders
Payments on long-term debt (16,000)
Payment of cash dividends
Net cash provided by (used for) financing activities
Increase in cash and cash equivalents 7,280
Cash and cash equivalents, beginning of period 16,800
Cash and cash equivalents, end of period $24,080

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