Issa Manufacturing Company was started on January 1, 2014, when it acquired $79,000 cash by issuing common stock. Issa immediately purchased office furniture and manufacturing equipment costing $9,000 and $35,100, respectively. The office furniture had a seven-year useful life and a zero salvage value. The manufacturing equipment had a $3,500 salvage value and an expected useful life of four years. The company paid $11,800 for salaries of administrative personnel and $15,300 for wages to production personnel. Finally, the company paid $12,080 for raw materials that were used to make inventory. All inventory was started and completed during the year. Issa completed production on 4,200 units of product and sold 3,240 units at a price of $16 each in 2014. (Assume that all transactions are cash transactions.)

a. determine the total product cost and the average cost per unit of the inventory produced in 2014.

Total Product cost=

Average cost per unit=

b. Determine the amount of cost of goods sold that would appear on the 2014 income statement.

Cost of goods sold=

c. Determine the amount of ending inventory balance that would appear on the December 31, 2014 financial sheet.

Ending inventory=

d. Determine the amount of net income that would appear on the 2014 income statement.

net income=

e. Determine the amount of retained earnings that would appear on the December 31, 2014 balance sheet.

Retained earnings=

f. Determine the amount of total assets that would appear on the December 31, 2014 balance sheet.

total assets=

g. Determine the amount of net cash flow from operating activities that would appear on the December 31, 2014 statement of cash flows.

Operating activities=

h. Determine the amount of net cash flow from investing activities that would appear on the december 31. 2014 statement of cash flows.

Investing activities=