Listen BALANCE SHEET Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets 2004 86,060 128,500 308,980 9,590 2005 18,610 201,670 342,080 6,870 2006 1,520 338,690 474,630 4.490 819,330 569,230 533,130 34,350 32,350 Fixed Assets Land Automobiles Building Equipment Subtotal Less: Accumulated depreciation Net Fixed Assets Other Assets 60.880 47,850 122,940 3,990 235,660 34,660 201,000 30.000 34,350 32,350 10,300 22,050 31,000 34,350 30,000 231,000 53,050 64,350 1,050,330 622,280 Total long-term assets 597,480 2006 TOTAL ASSETS 2003 2004 RAD NA LOL Liabilitites Other Assets 30,000 31,000 30,000 Total long-term assets 64,350 53,050 231,000 597,480 TOTAL ASSETS 622,280 1,050,330 Liabilitites Accounts payable Accrued liabilities Total current liabilities 2004 184,640 15,790 200,430 2005 290,740 11.850 302,590 2006 502,500 35.850 538,350 157,140 196,510 353,650 Bank Loan Mortgage loan Total long-term liabilities 81,710 348,630 430,340 119.430 176,510 295,940 2004 100,000 (56,600) 43,400 Equity Common Stock Retained Earnings Total Equity 2006 100,100 (18,460) 81,640 2005 100,100 (76,350) 23,750 1,050,330 622,280 597,480 TOTAL LIABILITIES and EQUITY 2006 2005 Income Statement Net Sales COGS Gross Profit 2004 930,110 644,190 285,920 2005 1,600,000 1,171,760 428,240 2006 2,066,820 1,476,840 589,980 190,330 19,430 29,100 76,430 Operating Expenses Wages and Commissions Rent General selling expenses General admin expenses Depreciation Total Operating expenses Interest Exp 253,910 22,200 27,560 104,720 10,300 306,170 11,100 23,860 132,850 24,360 315,290 27.230 418,690 29,220 498,340 33,750 57,890 (19,670) (56,600) Net Inc before tax Income Tax 57.890 (19,670) (56,600) Net Inc (loss) tont/enforced2/2233046- Question 12 (5 points) Listen Using the tables in Question 1, construct the CF statement between 2005-2006. What is the cash flow from prepaid expenses? Inflow of 120 Inflow of 2,380 Outflow of 120 Outflow of 2,380 View hint for Question 12