I need help to solve this problem. I added 5 pictures but it is all about one question
& https : / / www. ameengage . com / mod / quiz / attempt . php ? attempt = 2417408 & page = 6\\ `like neve Ellen Question 7 The balance sheet and income statement for Joe's Fish Hut are presented below : Not yet answered Marked out of Joe's Fish Hut 1| 2| 3| 4| 5| 6 16.00 Balance Sheet \\7| 8 P Flag question As at November 30 Finish attempt .. 2013 2012 ASSETS Time left 1:16:58 Current Assets Jash $171 , 963 $61 , 500 Accounts receivable* $24 , 600{ $10 , 900 Inventory $23 , 600| $29 , 400 Total Current Assets $220 , 163 $101 , 800 Property , plant & equipment ( 1 ) $129 , 000 $193 , 000 Less : Accumulated depreciation $ - 28, 400 $ - 22 , 700 TOTAL ASSETS $320 , 763 $272 , 100 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts payable $32 , 700 $34 , 900 Current portion of bank loan $8, 700 $8 , 700 Total Current Liabilities $41 , 400 $43 , 600 Long-term portion of bank loan $82, 000 _$46 , 000 TOTAL LIABILITIES $123 , 400 $ $89 , 600 Stockholders' Equity ` Contact us ! common stock $76 , 000 $57 , 40088% 4 Exam III : Chapters 12-14&16-2 2X https://www.ameengage.com/mod/quiz/attempt.php?attempt=2417408&page=6 Liabilities Current Liabilities Accounts payable $32,700 $34,900 Current portion of bank loan $8,700 $8,700 Total Current Liabilities $41,400 $43,600 Long-term portion of bank loan $82,000 $46,000 TOTAL LIABILITIES $123,400 $89,600 Stockholders' Equity Common stock $76,000 $57,400 Retained earnings(2) $121,363 $125, 100 TOTAL STOCKHOLDERS' EQUITY $197,363 $182,500 TOTAL LIABILITIES AND EQUITY $320,763 $272, 100 Additional Information: 1. Property, Plant & Equipment During 2013, land was sold for a loss of $6,500. The cash proceeds from the sale totaled $57,500. 2. Retained Earnings Joe's Fish Hut declared and paid $7,000 in dividends in 2013. Joe's Fish Hut Income Statement For the Year Ended November 30, 2013 Sales $123,000 COGS $79,950 Gross Profit $43,050 Operating Expenses X Contact us! Depreciation Expense $5,700 APRview History Bookmarks People Window Help 88% . . . Exam III : Chapters 12-14&16-2 x https://www.ameengage.com/mod/quiz/attempt.php?attempt=2417408&page=6 Joe's Fish Hut declared and paid $7,000 in dividends in 2013 Joe's Fish Hut Income Statement For the Year Ended November 30, 2013 Sales $123,000 COGS $79,950 Gross Profit $43,050 Operating Expenses Depreciation Expense $5,700 Other operating expenses $25,830 Total Operating Expenses $31,530 Operating Income $11,520 Other Income Loss on Sale of Land $6,500 Net Income Before Tax $5,020 Income Tax $1,757 Net Income $3,263 Create the cash flow statement using the indirect method. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Joe's Fish Hut Cash Flow Statement For the Year Ended November 30, 2013 Cash Flow from Operations X Contact us! Net Incomerome File View History Bookmarks People Window Help 88% [43. . . . Exam III : Chapters 12-14&16-2 x - C https://www.ameengage.com/mod/quiz/attempt.php?attempt=2417408&page=6 Joe's Fish Hut Cash Flow Statement For the Year Ended November 30, 2013 Cash Flow from Operations Net Income Add: Depreciation Add: Loss on sale of land Change in Current Assets and Current Liabilities Increase in Accounts Receivable Decrease in inventory Decrease in accounts payable Change in Cash Due to Operations Cash Flow from Investing Sale of land Change in Cash Due to Investing Cash Flow from Financing Sale of common stock Receipt of bank loan Payment of cash dividend Change in Cash Due to Financing Net increase (decrease) in cash X Contact us! Cash at the beginning of the yearChrome File Edit View History Bookmarks People Window Help 88% 43. . . . Exam III : Chapters 12-14&16-2 X C https://www.ameengage.com/mod/quiz/attempt.php?attempt=2417408&page=6 Add: Depreciation Add: Loss on sale of land Change in Current Assets and Current Liabilities Increase in Accounts Receivable Decrease in inventory Decrease in accounts payable Change in Cash Due to Operations Cash Flow from Investing Sale of land Change in Cash Due to Investing Cash Flow from Financing Sale of common stock Receipt of bank loan Payment of cash dividend Change in Cash Due to Financing Net increase (decrease) in cash Cash at the beginning of the year Cash at the end of the year Contact us! Next
