Following is a partially completed balance sheet for Epsico Incorporated at December 31, 2022, together with...

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Following is a partially completed balance sheet for Epsico Incorporated at December 31, 2022, together with comparative data for the year ended December 31, 2021. From the statement of cash flows for the year ended December 31, 2022, you determine the following (amounts in thousands of dollars): Net income for the year ended December 31, 2022, was $156. Dividends paid during the year ended December 31, 2022, were $48. Cash increased $48 during the year ended December 31, 2022. The cost of new equipment acquired during 2022 was $90; no equipment was disposed of. There were no transactions affecting the land account during 2022, but it is estimated that the fair market value of the land at December 31, 2022, is $252. Required: Complete the balance sheet at December 31, 2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Enter your answers in thousands of dollars. Assets Current assets Cash EPSICO INCORPORATED Balance Sheets December 31, 2022 and 2021 (Amounts in thousands) 2022 2021 Liabilities and Stockholders' Equity 2022 2021 Current liabilities $ 228 $ 180 Note payable $ 294 $ 240 < Prev 8 of 9 Next > Following is a partially completed balance sheet for Epsico Incorporated at December 31, 2022, together with comparative data for the year ended December 31, 2021. From the statement of cash flows for the year ended December 31, 2022, you determine the following (amounts in thousands of dollars): Net income for the year ended December 31, 2022, was $156. Dividends paid during the year ended December 31, 2022, were $48. Cash increased $48 during the year ended December 31, 2022. The cost of new equipment acquired during 2022 was $90; no equipment was disposed of. There were no transactions affecting the land account during 2022, but it is estimated that the fair market value of the land at December 31, 2022, is $252. Required: Complete the balance sheet at December 31, 2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Enter your answers in thousands of dollars. Assets Current assets Cash EPSICO INCORPORATED Balance Sheets December 31, 2022 and 2021 (Amounts in thousands) 2022 2021 Liabilities and Stockholders' Equity 2022 2021 Current liabilities $ 228 $ 180 Note payable $ 294 $ 240 < Prev 8 of 9 Next >

Answer rating: 100% (QA)

To complete the balance sheet start by calculating the missing values We have the following information Net income for the year ended December 31 2022 was 156 Dividends paid during the year ended Dece... View the full answer