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I FIND 1,3,4 SO I WANT TO KNOW NUMBER 2 QUESTION. THANK YOU. PLEASE LET ME KNOW HOT TO FIND NO.2 In 2019, III Company
I FIND 1,3,4 SO I WANT TO KNOW NUMBER 2 QUESTION.
THANK YOU. PLEASE LET ME KNOW HOT TO FIND NO.2
In 2019, III Company had net sales of $200,000, fixed assets of $200,000, interest expenses of $ 14,500, accounts receivable of $155,000, notes payable of $100,000, accounts payable of $75,000, inventory of $125,000, cash of $105,000, long-term debt of $180,000, common stock of $60,000, retained earnings of $120,000, total liabilities and equity of $535,000; in addition, costs of goods sold is 65% of net sales, depreciation is 25% of fixed assets, tax rate is 20%, and dividend pay-out ratio is 50%. In 2020, the net sales of III Company decreased by 15%, fixed assets were $250,000, interest expenses was $18,500, accounts receivable was $185,000, notes payable was $135,000, accounts payable was $105,000, inventories was $195,000, long-term debt was $225,000, common stock was$110,000; in addition, costs of goods sold was 60% of net sales, depreciation was 15% of fixed assets, tax rate was 20%, and dividend pay-out ratio was 50%. 1. What was the Retained Earnings in year 2019? 2. What was the Net Change in Cash in year 2019? 3. What was the Retained Earnings in year 2020? 4. What was the Net Change in Cash in year 2020Step by Step Solution
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