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Consider the following balance sheets and income statement for Cruyff Enterprises, and compute the cash that Cruyff paid to suppliers. Cruyff Enterprises Balance Sheets As

Consider the following balance sheets and income statement for Cruyff Enterprises, and compute the cash that Cruyff paid to suppliers.

Cruyff Enterprises

Balance Sheets

As of December 31, 2020 and 2019

2020

2019

Assets:

Cash

$18,650

$ 14,900

Accounts Receivable

42,000

36,000

Inventory

60,500

50,000

Prepaid Rent

3,000

1,400

Property, Plant and Equipment

230,000

205,600

Less: Accumulated Depreciation

(75,000)

(65,000)

Total Assets

$279,150

$242,900

Liabilities and Stockholders Equity:

Accounts Payable

$26,500

$21,000

Interest Payable

650

400

Unearned Revenue

7,000

10,000

Bonds Payable

37,000

37,000

Common Stock

20,000

15,000

Additional Paid-In Capital

48,000

40,000

Retained Earnings

140,000

119,500

Total Liabilities and Stockholders Equity:

$279,150

$242,900

Cruyff Enterprises

Income Statement

For the year ended December 31, 2020.

Sales Revenue

$ 470,000

Cost of Goods Sold

315,000

Wage Expense

71,000

Rent Expense

xx,xxx

Depreciation Expense

15,000

Interest Expense

19,000

Net Income

yy,yyy

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