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Here are the most recent balance sheets for Country Kettles, Inc. Excluding accumulated depreciation, determine whether each item is a source or a use of
Here are the most recent balance sheets for Country Kettles, Inc. Excluding accumulated depreciation, determine whether each item is a source or a use of cash, and the amount. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Input all amounts as positive values): |
COUNTRY KETTLES, INC. Balance Sheet | ||||||||
2018 | 2019 | |||||||
Assets | ||||||||
Cash | $ | 31,100 | $ | 30,260 | ||||
Accounts receivable | 70,600 | 73,720 | ||||||
Inventories | 61,500 | 63,750 | ||||||
Property, plant, and equipment | 154,000 | 164,200 | ||||||
Less: Accumulated depreciation | (46,480 | ) | (50,600 | ) | ||||
Total assets | $ | 270,720 | $ | 281,330 | ||||
Liabilities and Equity | ||||||||
Accounts payable | $ | 45,600 | $ | 47,760 | ||||
Accrued expenses | 6,980 | 6,180 | ||||||
Long-term debt | 26,300 | 29,050 | ||||||
Common stock | 23,000 | 27,700 | ||||||
Accumulated retained earnings | 168,840 | 170,640 | ||||||
Total liabilities and equity | $ | 270,720 | $ | 281,330 | ||||
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