Question
Family Fitness, Incorporated, reported the following information for the six-month period ended June 29, 2019. Items are listed alphabetically and are in thousands of dollars.
Family Fitness, Incorporated, reported the following information for the six-month period ended June 29, 2019. Items are listed alphabetically and are in thousands of dollars. Accounts Payable $ 1,029,400 Accounts Receivable 601,000 Advertising Expense 70,700 Cash (January 1, 2019) 1,384,700 Cash (June 29, 2019) 1,077,000 Common Stock 1,535,500 Dividends 310,700 Equipment 3,066,700 Income Tax Expense 79,700 Inventory 649,700 Notes Payable 349,000 Office Expense 657,700 Operating Expenses 694,700 Retained Earnings (January 1, 2019) 2,726,700 Sales Revenue 1,737,000 Supplies 169,700 Other cash flow information: Cash received from issuing common stock $ 58,700 Cash paid to purchase equipment 530,700 Cash paid to suppliers and employees 1,432,700 Cash received from customers 1,723,000 Cash received from sale of long-term assets 184,700 Dividends paid to stockholders 310,700 Required: Prepare an income statement, retained statement and balance sheet for the six months ended June 29, 2019.
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