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Given the following income statement and balance sheet, find the net cash used for financing activities? Income statement for 2020: Balance Sheet: $23.598 11,456 12.142
Given the following income statement and balance sheet, find the net cash used for financing activities? Income statement for 2020:
Balance Sheet:
$23.598 11,456 12.142 $4,123 1,052 3,577 Revenue Cost of goods sold Gross profit Salary and wage expense Depreciation expense Other operating expenses Total operating expenses Operating profit Other revenues (expenses): Gain on sale of equipment Interest expense Income before tax Income tax expense Net income 8.752 3,390 205 (246) (41) 3,349 1,139 $2,210 2020 2019 Cash Accounts receivable Inventory Prepaid expenses Total current assets Land Buildings Equipment Less: accumulated depreciation Total long-term assets Total assets $1,011 1,012 3,984 155 6,162 510 3,680 8,798 (3,443) 9,545 $15,707 $1,163 957 3,277 178 5,575 510 3,680 8,555 (2.891) 9,854 $15,429 $3,325 75 74 50 Accounts payable Salary and wage payable Interest payable Income tax payable Other accrued liabilities Total current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity $3,588 85 62 55 1.126 4,916 3,075 3,750 3,966 $15,707 1,104 4,628 3,575 4,350 2,876 $15,429Step by Step Solution
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