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I need help using the below cash flow statement and profit & loss statement. I need help with a balance sheet that comes from the
I need help using the below cash flow statement and profit & loss statement.
I need help with a balance sheet that comes from the above profit and loss statement and cash flow Numbers ARE assumed this is a made-up company that sells Candy in bulk.
Particular 2019 2020 Net income 298000 473000 Add: Interest exp 2500 15000 Less: Interest revenue (15000) (50000) Add: Dept 1000 2000 Cash flow from operating activities 286500 440000 Cash flow from investing activities Interest revenue 15000 50000 Interest exp (2500) (15000) Net cash flow 12500 35000 2020 850,000 280,000 570,000 20,000 Profit and Loss Statement 2019 Sales 540,000 Cost of goods sold 140,000 Gross profit 400,000 Other operating income Operating expenses Salaries and wages 45,000 Depreciation expense 1,000 Advertisement Commission expense 40,500 Payroll taxes 3,000 Other operating expenses 25,000 114,500 Total operating income 285,500 Non-operating income Revenue from interest 15,000 Interest expense 2,500 12,500 Net income 298,000 70,000 2,000 30,000 15,000 10,000 25,000 152,000 438,000 50,000 15,000 35,000 473,000Step by Step Solution
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