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following 11 questions. December Balance Sheet Assets Cash 20,000 $10,000 Accounts receivable 160,000 10,000 Inventories 80,000 50,000 Prepaid Ren 15,000 10,000 Investments 100,000 75,000 Plant
following 11 questions. December Balance Sheet Assets Cash 20,000 $10,000 Accounts receivable 160,000 10,000 Inventories 80,000 50,000 Prepaid Ren 15,000 10,000 Investments 100,000 75,000 Plant assets 210,000 250,000 ulated depreciation 65.000 00) Total $520.000 $445,000 iti OC 10 Accounts payable S 50,000 40,000 Interest payable 20,000 5,000 Income tax payable 5,000 10,000 Note payable 130,000 140,000 Common stock 155,000 100,000 Retained earnings 160,000 150,000 Total S520,000 $445,000 Income Statement For the Year Ended December 31, 2005 Sales S800.000 Cost of goods sold Gross Profit 480,000 320,000 Operating expenses including Depreciation Expense 120,000 Interest expense 20,000 Income tax expense25,000 Total 155,000 Income before Gains and Losses Gain on sale of plant assets 5,000 Net income $ 160,000 Additional information pertaining to ABC Company: .Accounts payable pertain to the purchase of inventory .Plant assets were sold for $40,000. The cost of the plant assets was $40,000 . All dividends are cash For the year 2005: 51. Cash received/collected from customers is 52. Purchases for the year is: 53. Cash paid to suppliers is: 54. Depreciation expense is: 55. Cash paid for operating expenses is: 56. Cash paid for interest is: 57. Cash paid for income taxes is: 58. Cash provided by (used in)* operating activities is: 59. Cash provided by/(used in)* investing activities is: 60. Cash paid for dividends is: 61. Cash provided by (used in)* financing activities is: *If your answer is cash "used in", you must indicate this by writing your answer in parenthesis. For example, ($10,000). If your answer is cash provided by", you must write your answer without parentheses. Refer to the balance sheet and income statement for ABC Co.: 62. If Rent Expense for the period was $20,000, the Cash paid for Prepaid Rent is
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