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Maris Corporation Income Statement Year Ended December 31, 20XX Sales $5,500,000 Cost of goods sold 3,725,000 Gross profits 1,775,000 Selling and administrative expense 710,000 Amortization
Maris Corporation Income Statement Year Ended December 31, 20XX | ||
Sales | $5,500,000 | |
Cost of goods sold | 3,725,000 | |
Gross profits | 1,775,000 | |
Selling and administrative expense | 710,000 | |
Amortization expense | 230,000 | |
Operating income | 835,000 | |
Interest expense | 50,000 | |
Earnings before taxes | 785,000 | |
Taxes | 470,000 | |
Earnings after taxes | 315,000 | |
Preferred stock dividends | 25,000 | |
Earnings available to common shareholders | $290,000 | |
Shares outstanding | 145,000 | |
Earnings per share | $2.00 | |
Statement of Retained Earnings For the Year Ended December 31, 20XX | ||
Retained earnings, balance, January 1, 20XX | $900,000 | |
Add: Earnings available to common shareholders, 20XX | 290,000 | |
Deduct: Cash dividends declared and paid in 20XX | 150,000 | |
Retained earnings, balance, December 31, 20XX | $1,040,000 | |
Shareholders equity: Preferred stock 130,000 130,000 Common stock 500,000 500,000 Retained earnings 1,040,000 900,000 Total shareholders equity 1,670,000 1,530,000 Total liabilities and shareholders equity $3,039,000 $2,645,000
Find the prefred and common divided to enter in the cash flow
Prepare a statement of cash flows for the Maris Corporation
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