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Leviathan Manufacturing makes and sells integrated circuit boards. At the end of 2 0 2 3 , the income statement and comparative balance sheet were
Leviathan Manufacturing makes and sells integrated circuit boards. At the end of the income statement and comparative balance sheet were prepared as shown below.
Leviathan Manufacturing
Balance Sheet
As at March
Assets
Current Assets
Cash $ $
Accounts Receivable $ $
Merchandise Inventory $ $
Prepaid Expenses $ $
Total Current Assets $ $
LongTerm Assets
Land $
Equipment $ $
Less: Accumulated Depreciation $ $
Total LongTerm Assets $ $
Total Assets $ $
Liabilities
Current Liabilities
Accounts Payable $ $
Notes Payable, Current Portion $ $
Total Current Liabilities $ $
Notes Payable, LongTerm Portion $ $
Total Liabilities $ $
Shareholders' Equity
Common Shares $ $
Retained Earnings $ $
Total Shareholders' Equity $ $
Total Liabilities and Equity $ $
Additional Information:
During land was sold for a loss of $ There was no purchase of equipment. The company did not pay off any amount of the notes payable.
Leviathan Manufacturing
Income Statement
For the Year Ended March
Sales $
Cost of Goods Sold $
Gross Profit $
Operating Expenses
Depreciation Expense $
Other Operating Expenses $
Total Operating Expenses $
Income from Operations $
Other Income and Expenses
Loss on Sale of Land $
Income before Income Tax $
Income Tax $
Net Income $
Prepare 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.Leviathan Manufacturing
Cash Flow Statement
For the Year Ended March
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