Oueshn Cogln QUESTION 81 The income statement balance sheet and addonal domaon lor Vtual Gaming Systems are provided VIRTUAL GAMING SYSTEMS Iome itatement For the year ended December 31, 2012 Revenues Gain on sale of land $2.700 000 2500 Total revenues Expenses Cost of goods sold Operating expenses Depreciation exspense nterest expernse Income tax expense 2,702 500 $1660 000 601000 24.000 24 600 To.700 Tolal expenses 2.306 200 Net income S316,300 VIRTUAL GAMING SYSTEMS Balance Sheet December 31 2012 2011 Assets Curent assets Cash Accounts recoivable Inventory Prepaid rent Long term assets Investments Land $ 346 600 78,000 146 000 4.700 140 000 100 000 130000 6,600 109 000 216.000 231.000 (130,000) 140 000 270.000 210,000 (106,000) Equipment Accumulated depreciation 906 600 S1.081 200 Total assets Liabilities and Stockholders' Equity Curent labilities Accounts payable Interest payable Income tax payable Long torm abties Notes payable Stockholders equity Common stock Retained earnings S94.000 2500 30 000 S 34.000 4800 21.000 254.000 233 000 220.000 327.100 274.000 493.400 Click Save and Submit to save and submit. Click Seve All Anseers to sase all anncers Bb Bale Assts Carent asst Cash Accouds cvalle ry Prepasd Long tm assels Land Equipmen Accuaed depre Tol a Liabilities and StockoldeaEquity Crent ba es Accounds payalle interest payalde income las payalle Long tarm ab Notes payable Sockholder qty Common stock Retained eaing 3M000 21 www 24 599 74 00 Tolal abs and sockhde sqty$1 29 906 Addonal Idomaion for 2012 1 Purchase addonal ie t in ock for S49 2 Sell land couing 64000 for V650 g 7500 ge e sae f 3 Purchase 521 00 ment by bowng $2150 w ne cash is exchanged in the transac 4 Declare and pay a cash didend of 160 909 5 Issue common stock for M4.000 en Please propare statement of cash ows and ans the following questions What is the net cash flows from operating actves What is the net cash fows from investing aces What is the net cash flows from fnancing acves What is the net cash flows from noncash actives Click Save and Submit to sae and submit.Click Se All Anrs to Bb Oueshn Cogln QUESTION 81 The income statement balance sheet and addonal domaon lor Vtual Gaming Systems are provided VIRTUAL GAMING SYSTEMS Iome itatement For the year ended December 31, 2012 Revenues Gain on sale of land $2.700 000 2500 Total revenues Expenses Cost of goods sold Operating expenses Depreciation exspense nterest expernse Income tax expense 2,702 500 $1660 000 601000 24.000 24 600 To.700 Tolal expenses 2.306 200 Net income S316,300 VIRTUAL GAMING SYSTEMS Balance Sheet December 31 2012 2011 Assets Curent assets Cash Accounts recoivable Inventory Prepaid rent Long term assets Investments Land $ 346 600 78,000 146 000 4.700 140 000 100 000 130000 6,600 109 000 216.000 231.000 (130,000) 140 000 270.000 210,000 (106,000) Equipment Accumulated depreciation 906 600 S1.081 200 Total assets Liabilities and Stockholders' Equity Curent labilities Accounts payable Interest payable Income tax payable Long torm abties Notes payable Stockholders equity Common stock Retained earnings S94.000 2500 30 000 S 34.000 4800 21.000 254.000 233 000 220.000 327.100 274.000 493.400 Click Save and Submit to save and submit. Click Seve All Anseers to sase all anncers Bb Bale Assts Carent asst Cash Accouds cvalle ry Prepasd Long tm assels Land Equipmen Accuaed depre Tol a Liabilities and StockoldeaEquity Crent ba es Accounds payalle interest payalde income las payalle Long tarm ab Notes payable Sockholder qty Common stock Retained eaing 3M000 21 www 24 599 74 00 Tolal abs and sockhde sqty$1 29 906 Addonal Idomaion for 2012 1 Purchase addonal ie t in ock for S49 2 Sell land couing 64000 for V650 g 7500 ge e sae f 3 Purchase 521 00 ment by bowng $2150 w ne cash is exchanged in the transac 4 Declare and pay a cash didend of 160 909 5 Issue common stock for M4.000 en Please propare statement of cash ows and ans the following questions What is the net cash flows from operating actves What is the net cash fows from investing aces What is the net cash flows from fnancing acves What is the net cash flows from noncash actives Click Save and Submit to sae and submit.Click Se All Anrs to Bb