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FORRESTER COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue Cost of Goods Sold $376,000 $660,000 Wages Expense 107,000 Depreciation Expense
FORRESTER COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue Cost of Goods Sold $376,000 $660,000 Wages Expense 107,000 Depreciation Expense 22,000 Rent Expense 28,000 Income Tax Expense 24,000 557,000 Net Income $103,000 Assets FORRESTER COMPANY Balance Sheets Dec. 31, 2019 Dec. 31, 2018 Cash $58,000 $30,000 Accounts Receivable 52,000 60,000 Inventory 142,000 120,000 Prepaid Rent 16,000 10,000 Plant Assets 420,000 301,000 Accumulated Depreciation (127,000) (105,000) Total Assets $561,000 $416,000 Liabilities and Stockholders' Equity Accounts Payable $29,000 $17,000 Wages Payable 14,000 9,000 Income Tax Payable 7,000 8,000 Common Stock 295,000 252,000 Paid-in-Capital in Excess of Par Value 72,000 58,000 Retained Earnings 144,000 72,000 Total Liabilities and Stockholders' Equity $561,000 $416,000 a. Change in Cash during 2019 $ b. Use a negative sign with cash outflow answers. RURAL COMPANY Statement of Cash Flows For Year Ended December 31, 2019 Cash Flow from Operating Activities Cash Received from Customers Cash Paid for Merchandise Purchased $ Cash Paid to Employees Cash Paid for Rent Cash Paid for Income Taxes Cash Provided by Operating Activities Cash Flow from Investing Activities Purchase of Plant Assets Cash Flow from Financing Activities Issuance of Common Stock Payment of Dividends Cash Provided by Financing Activities Net Change in Cash Cash at Beginning of Year Cash at End of Year c. Free cash flow $ d. Operating-cash-flow-to-current-liabilities ratio. Round answer to two decimal places. $
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