Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Data table Income Statement Revenues Cost of goods sold Other expenses Income before income taxes Income taxes (35%) Net income Statement of Retained Earnings Beginning
Data table Income Statement Revenues Cost of goods sold Other expenses Income before income taxes Income taxes (35%) Net income Statement of Retained Earnings Beginning balance Net income Dividends declared Ending balance Balance Sheet Assets Cash Property, plant, and equipment Other assets Print Done 2019 2018 (in Thousands) $K$ 15,100 11,010 a 1,270 1,210 1,550 1,880 I 658 $m $b 2,700 $n$ O (94) $p $q 1,587 (80) $ d $e 1,326 r 11,906 Data table Balance Sheet Assets Cash Property, plant, and equipment Other assets Total assets Current liabilities Long-term debt Other liabilities Total liabilities Stockholders' equity: Common stock Retained earnings Other stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity Print Liabilities Cash Flow Statement Done $ $ $ q $e 1,587 1,326 r 11,906 $s $ 14,447 $t$ 5,640 3,390 1,100 $f 275 g 200 4,317 $h 4,750 955 9,450 275 $ u 140 V $w Data table Liabilities Current liabilities Long-term debt Other liabilities Total liabilities Stockholders' equity: Common stock Retained earnings Other stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity Cash Flow Statement Net cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Increase (decrease) in cash Cash at beginning of year Cash at end of year Print Done $ $ $t$ 4,750 955 9,450 275 $ u 140 V $w $X $ (220) (540) (210) y $z 5,640 3,390 1,100 $f 275 g 200 4,317 $h 825 (400) (480) i 1,270 $ I X Summarized versions of Espinola Corporation's financial statements for two recent years are as follows. (Click the icon to view the financial statements.) Requirement 1. Complete Espinola Corporation's financial statements by determining the missing amounts denoted by the letters. If necessary, round numbers up to the nearest whole dollar. (Round the tax calculation to the nearest thousand dollars. Use parentheses or a minus sign when entering a net decrease in cash) 2019 2018 Income Statement (in Thousands) Revenues S Cost of goods sold 11,010 Other expenses 1,270 Income before income taxes 1.550 Income taxes (35%) Net income Statement of Retained Earnings Beginning balance Net income Dividends Ending balance Balance Sheet Assets Cash (94) S 15,100 1,210 1,880 658 2,700 (80) Summarized versions of Espinola Corporation's financial statements for two recent years are as follows. (Click the icon to view the financial statements.) Requirement 1. Complete Espinola Corporation's financial statements by determining the missing amounts denoted by the letters. If necessary, round numbers up to the nearest whole dollar. (Round the tax calculation to the nearest thousand dollars. Use parentheses or a minus sign when entering a net decrease in cash) O g Balance Sheet Assets Cash Property, plant, and equipment Other assets Total assets Current liabilities Long-term debl Other liabilities Total liabilities Stockholders' equity: Common stock Retained earnings Other stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity Liabilities HELPPO 1,587 4,750 955 9,450 275 S 140 1,326 11,906 14,447 5,640 3,390 1,100 275 200 4.317 Summarized versions of Espinola Corporation's financial statements for two recent years are as follows. (Click the loon to view the financial statements.) Requirement 1. Complete Espinola Corporation's financial statements by determining the missing amounts denoted by the letters. If necessary, round numbers up to the nearest whole dollar. (Round the tax calculation Use parentheses or a minus sign when entering a net decrease in cash) C Current liabilities S 5,640 Long-term debt 3,390 Other liabilities 1,100 Total liabilities Stockholders' equity: Common stock 275 Retained earnings 200 Other stockholders' equity 4,317 825 (400) (480) 1,270 Total stockholders' equity Total liabilities and stockholders' equity Cash Flow Statement Net cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Increase (decrease) in cash Cash at beginning of year Cash at end of year $ $ 4,750 955 9,450 275 S 140 (220) (540) (210) S the nearest thousand dollars
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started