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I can not figure out how to find the net income for Aug 31, 2018 I am preparing a Statement of cash flows from this
I can not figure out how to find the net income for Aug 31, 2018
I am preparing a Statement of cash flows from this balance sheet I am not provided with a income statement just the balance sheet and I am asked for the net income
Planet Inc. Balance Sheet As at August 31 2017 2018 Assets Current Assets Cash Accounts Receivable Prepaid Expenses Merchandise Inventory Total Current Assets Noncurrent Assets Equipment Less: Accumulated Depreciation $-26,100 $-18,300 $20,800 $11,400 $16,400 $9,700 $3,200 $1,800 $34,200 $19,900 $74,600 $42,800 $186,000 $157,000 $159,900 $138,700 Total Noncurrent Assets Total Assets Liabilities Current Liabilities Long-Term Liabilities Total Liabilities $234,500 $181,500 $22,000 $22,000 $24,000 $41,000 $46,000 $63,000 Stockholders' Equity Paid-In Capital Preferred Stock Common Stock Additional Paid-In Capital Total Paid-In Capital Retained Earnings Total Stockholders' Equity Total Liabilities and Equity $66,000 $56,000 $31,000 $9,000 $10,000 $107,000 $65,000 $81,500 $53,500 $188,500 $118,500 $234,500 $181,500Step by Step Solution
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