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I need complete answer as soon as possible Good Day Company Income Statement For the year ended December 31, 2009 REVENUES Net Sales Gain on
I need complete answer as soon as possible
Good Day Company Income Statement For the year ended December 31, 2009 REVENUES Net Sales Gain on Sale of Marketable Securities Total Revenue and Gain Less:- Operating Expenses Rs.150,000 Depreciation Expense 60,000 Income before taxes Less: - Income Taxes Net Income Good Day Company Comparative Balance Sheets As at December 31 2008 2009 Cash Rs.50, 000 Rs.45,000 Marketable Securities 40,000 25,000 Accounts Receivable 320, 000 330, 000 Inventory 240,000 235,000 Plant & Equipment (Net of Accumulated Depreciation 600, 000 640,000 Totals Rs.1250,000 Rs.1275,000 Liabilities & Stockholders' Equity Accounts Payable Rs.150,000 Rs.160,000 Accrued Expense Payable 60,000 45,000 Mortgage Notes Payable (long term) -0- 70,000 Bonds Payable 500,000 350,000 Capital Stock 160,000 160, 000 Retained Earnings 380,000 490,000 Totals Rs.1250, 000 Rs.1275,000 ADDITIONAL INFORMATION 1. Cash Dividend of Rs.140, 000 were declared and paid. 2. Marketable Securities costing Rs.15, 000 were sold for Rs.35, 000 cash, resulting in a Rs.20, 000 non-operating gain. 3. The company purchased plant assets for Rs.100, 000 making a Rs.30, 000 cash down payment, and issuing a Rs.70, 000 mortgage notes payable for the balance of the purchase price. Required: Prepared the cash flow statement using the indirect method. Assets Rs. 490,000 20,000 510,000 210,000 300,000 50,000 250.000Step by Step Solution
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