Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For the given income statement, retained earning statement, and balance sheets, calculate the sources / uses of funds and fill in the entries in the

For the given income statement, retained earning statement, and balance sheets, calculate the sources/uses of funds and fill in the entries in the cash flow statement below.
2018 Income Statement $(000)
Revenue 3000
WarrantyBad Debt 40
Net Revenue 2960
COGS 1480
Contribution Margin 1480
SG&A(incl depreciation)1200
Operating Income 280
Other Income 40
Net Income 320
2018 Retained Earnings Statement $(000).
Retained Earnings, start of year 1400
Net Earnings for the year 320
Less: Dividend Paid 100
Retained Earnings, end of year 1620
Notes:
Calculate the required quantities to answer each of the blanks.
Express your quantities in your answer in thousands ($000).Write down integers in thousands.
Please answer all the blanks and type in "0" where you think there is no actual value.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Next Step Advanced Medical Coding And Auditing

Authors: Carol J. Buck

1st Edition

0323430775, 978-0323430777

More Books

Students also viewed these Accounting questions

Question

What are the requirements for Rule 506 under Reg D?

Answered: 1 week ago

Question

How do you communicate intimacy nonverbally?

Answered: 1 week ago