NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2015 Cash $34,740 Accounts receivable 32,570 Inventory 26,630 Equipment 59,470 Accumulated depreciation-equipment (29,270) Total $124,140 2014 $20,230 18,060 20,720 77,590 (23,050 ) $113,550 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,350 7,200 27,590 18,140 42,860 $124,140 $ 16,770 8,070 32,660 13,670 42,380 $113,550 NOSKER COMPANY Income Statement For the Year Ended December 31, 2015 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $242, 230 176,570 65,660 24,690 40,970 2,420 38,550 7,030 $31,520 Additional data: 1. Dividends declared and paid were $31,040. 2. During the year equipment was sold for $7,850 cash. This equipment cost $18,120 originally and had a book value of $7,850 at the time of sale. 3. All depreciation expense, $16,490, is in the operating expenses. 4. All sales and purchases are on account. (15,000).) NOSKER COMPANY Statement of Cash Flows For the Year Ended December 31, 2015 TCash Flows from Operating Activities 1 31,520 Net Income Adjustments to reconcile net income to T Net Cash Provided by Operating Activities T Depreciation Expense 16,490 | Increase in Accounts Receivable T Increase in Inventory T Increase in Accounts Payable T Decrease in Income Taxes Payable T Net Cash Provided by Operating Activities : Cash Slowfemalestinaties Al CALCULATOR I Cash Flows from Investing Activities : Sale of Equipment TCash Flows from Financing Activities - Issuance of Common Stock T Redemption of Bonds T Payment of Dividends Net Cash used by Financing Activities : Net Increase in Cash TCash at Beginning of Period Cash at End of Period LINK TO TEXT VIDEO: SIMILAR