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i am so confused. its a three part question Required information [The following information applies to the questions displayed below. The following financial statements and
i am so confused. its a three part question
Required information [The following information applies to the questions displayed below. The following financial statements and additional information are reported. 2016 IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 Assets Cash $ 87,500 Accounts receivable, net 65,000 Inventory 63,800 Prepaid expenses 4,400 Total current assets 220, 700 Equipment 124, 000 Accum. depreciation-Equipment (27,000) Total assets $317, 700 Liabilities and Equity Accounts payable $ 25,000 Wages payable 6,000 Income taxes payable 3,400 Total current liabilities 34,400 Notes payable (long term 30,000 $ 44,000 51,000 86, 500 5, 400 186, 900 115,000 (9,000) $292, 900 $ 30,000 15, 000 3,800 48, 800 60,000 hulu acer Required information $ 187,380 Cash flows from investing activities Cash received from sale of equipment Cash paid for equipment 10,000 (57,600) Net cash used in financing activities Cash flows from financing activities (47,600) Increase in accounts payable 60.000 30,000 *(90,310) Cash paid for dividends Net cash used in financing activities (310) hulu acer Required information LOTOS WWW GLS Cash received from sale of equipment Cash paid for equipment 10,000 (57.600) Net cash used in financing activities Cash flows from financing activities (47.600) Increase in accounts payable 60,000 30,000 (90,310) Cash paid for dividends Net cash used in financing activities Net increase (decrease) in cash Cash balance at prior year-end Cash balance at current year-end $ (310) 139,470 44,000 183,470 $ hulu acer a. A $30,000 note payable is retired at its $30,000 carrying (book) value in exchange for b. The only changes affecting retained earnings are net income and cash dividends paid. c. New equipment is acquired for $57,600 cash. d. Received cash for the sale of equipment that had cost $48,600, yielding a $2,000 gain. e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statemer f. All purchases and sales of inventory are on credit. (2) Compute the company's cash flow on total assets ratio for its fiscal year 2017 Choose Numerator: Cash Flow on Total Assets Ratio Choose Denominator: Cash Flow on Total Assets Ratio Cash flow on total assets ratio 0 hulu acer Required information LAST W WOD WIL OLUVIUS Cash flows from financing activities Net increase (decrease) in cash Cash balance at prior year-end Cash balance at current year-end Step by Step Solution
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