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Current Year Prior Year Balance Sheet Assets Cash 116,700 134.400 126,000 117.000 206,000 108.000 (5,840 (31,000) 144,000 108,000 Merchandise Inventory Property and Equipment Total Assets
Current Year Prior Year Balance Sheet Assets Cash 116,700 134.400 126,000 117.000 206,000 108.000 (5,840 (31,000) 144,000 108,000 Merchandise Inventory Property and Equipment Total Assets $514.860 454.400 Accounts Payable Salaries and Wages Payable Notes Payable, Long-Term $ 18,000 21.800 1.800 90,000 108,000 3,600 Stockholders Equity: Common Stock Retained Earnings 144,000 239,200 79000 164,000 Total Liabilities and Stoclkholders Equity $514,880 454,400 Current Year Income Statement Sales Cost of Goods Sold 520,000 270,000 28,840 130,000 Other Expenses Net income S 91.160 Other information from the company's records includes the following .Bought equipment for cash, 598,000. Pald $18,000 on long-term note payable .Issued new shares of common stock for $20,000 cash. . Cash dividends of $30.800 were declared and paid to stockholders . Accounts Payable arose from inventory purchases on credit. Income Tax Expense (34.000) and Interest Expense (3.000) were paid in full at the end of both years and are indluded in Other Expenses Required: Prepare a schedule summarizing operaing. invesing. and financing cash fows using the T-sccount approach Operatino Investing Financing
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