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I need all the blank boxes filled it, I keep getting wrong answers. Thank you Comprehensive: Balance Sheet from Statement of Cash Flows Mills Company
I need all the blank boxes filled it, I keep getting wrong answers.
Thank you
Comprehensive: Balance Sheet from Statement of Cash Flows Mills Company prepared the following balance sheet at the beginning of 2016 Balance Sheet January 1, 2016 Liabilities and Shareholders' Equity Assets Cash Accounts receivable (net) Inventory Land Buildings and equipment Less: Accumulated depreciation 14,100) Retained earnings Total Assets At the end of 2016, Mills prepared the following statement of cash flows: 4,000 1,100 5,100 13,500 11,200 44,400 74,200 Total Liabilities and Shareholders Equity$74,200 1,000 Accounts payable 3,900 Salaries payable 4,700 Total Liabilities 9,800 Common stock, $10 par 68,900 Additional paid-in capital Statement of Cash Flows For Year Ended December 31, 2016 Operating Activities: Net income 5,400 Adjustments for differences between income flows and cash flows from operating activities: Add 1,900 500 400 (1,100) (1,000) Decrease in inventory Increase in salaries payable Less: Increase in accounts receivable (net) Decre ase in accounts payable Net cash provided by operating activities 6,100 Investing Activities: Payment for purchase of building Receipt from sale of land Net cash used for investing activities $(13,900) 3,000 (10,900) Financing Activities Payment of dividends Receipt from issuance of bonds Receipt from issuance of common stock Net cash provided by financing activities s (3,100) 5,700 4,500 Net increase in cash Cash, January 1, 2016 Cash, December 31, 2016 7,100 $2,300 1,000 3,300 Additional information related to the statement of cash flows: 1. The long-term bonds have a face value of $6,000 and were issued on December 31, 2016 2. The building was purchased on December 30, 2016 3. The land was sold at its original cost 4. The common stock which was sold totaled 300 shares and had a par value of $10 per share Required: Prepare a classified balance shee: for the Mills Company as of December 31, 2016. (Hint: Review the information on the statement of cash flows and the balances in the beginning balance sheet eccounts to determine the impact on the ending belance sheet accounts) MILLS COMPANY Balance Sheet December 31 2016 Current Assets: Cash Accounts receivable (net) $ 3,300 5,000 4.200 Inventory assets 12,500 Property, Plant, and Equipment Land 6,800 and equipment $ 82,800 16,000 Total property, plant, and equipment Total Assets 86,100 Current Liabilities: Accounts payable Salaries payable Total current iabilities Long-Term Liabilities: $3,000 1,500 4,500 Bonds payable Less: Discount on bonds payable Total long-term liabilities Total Liabilities $ 10,200 Sharehol aholders' Equity Common stock, s10 par Additional paid-in capital Total contributed capital Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity $ 16,500 12.700 29,200 46,700 75,900Step by Step Solution
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