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My company Im doing is Tesla PROBLEM 2-14 STATEMENT OF CASH FLOWs The financial statements for the Peoples Show Store are as follows: INCOME STATEMENT
My company Im doing is Tesla PROBLEM 2-14 STATEMENT OF CASH FLOWs The financial statements for the Peoples Show Store are as follows: INCOME STATEMENT 2013 Sales Cost of Goods Sold Gross Profit Selling and Operating Expenses Net Operating Income Nonoperating items: 800,000 500,000 300,000 213,000 87,000 Gain on sale of investing 7,000 Loss on sale of equipment Income before taxes Income taxes Net Income (4.000) 3,000 90,000 7,000 3,000 During 2013, Peoples sold some equipment for $20,000 that had cost $40,000 and on which there was accumulated depreciation of $16,000. In addition, the company sold long-term investments for $10,000that had cost $3,000 when purchased several years ago. A cash dividend was paid during 2013 and the company repurchased $40,000 of its own stock. Peoples did not retire any bonds during 2013 PROBLEM 2-14 STATEMENT OF CASH FLOWS Continued: Peoples Company BALANCE SHEET 2013 2013 Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets: Property, Plant, and Equipment Less Accumulated Depreciation Net Property Plant and Equipment Long Term Investments Total Assets: Accounts Payable Accrued Liabilities Income Taxes Payable Total Current Liabilities: Bonds Payable Total Liabilities: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 2012 15,000 240,000 175,000 9,000 340,000 125,000 436.000 470,000 85,000 385.000 610,000 517.000 230,000 72,000 310,000 60,000 336,000 410,000 250,000 74,000 210,000 107,000 324,000 1,017.000 Required: Prepare Statement of Cash Flows
My company Im doing is Tesla
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