Outdoor living spaces Company Outdoor Living Spaces Company Find the letter (A through G) and articulate what each of the items most likely pertains to for a small deck construction business. and recreate an opening balance sheet. Balance Sheet as of December 21, this year Statement of Cash Flows for the Year Ended December 31, This Year Assets: Operating Activities:

Cash $1,000 Net income $8,720

Short-term treasury bills 12,100 Add: depreciation expense D 9,000

13,100 Less: noncash revenues -0-

Receivables A 61,500 Adjustment for deferred taxes, decrease (350)

Inventories 25,475 Receivables Decrease (increase) E (8,010)

Other current assets 3,030 Inventories, decrease (increase) (9,200) Total current assets 103,105 Payables, increase (decrease) 4,400

Property, plat, equipment 103,000 Taxes payable, increase (decrease) 2,800

Less: accumulated depreciation 50,000 Other (1,600)

53,000 Cash flow from investing activities 5,760

Other assets 6,405 Investing Activities:

Total assets $162,510 Purchases of property, plant, and equipment F (15,600)

Liabilities: Other 4,650

Notes Payable $6,000 Cash flow from investing activities (10,950)

Current portion of long-term debt B 1,000 Financing Activities:

Accounts Payable 18,000 Proceeds from notes payable 2,400

Wages Payable 4,900 Payments on long-term loans (4,000)

Accrued liabilities 3,015 Payments on long-term loans (4,000)

Accrued taxes 8,400 Cash dividends paid to stockholders (1,900)

Total Current Liabilities 41,315 Cash flow from financing activities (500)

Long term debt 23,000 Increase (decrease) in cash and equivalents (4,690)

Deferred taxes 7,600 Cash and cash equivalents, beginning of year 17,790

Total liabilities $79,895 Cash and cash equivalents, end of year $ 13,100

Stockholders Equity: Income Statement for the Year Ended December 31, This Year

Common Stock $10,700 Sales $346,900

Retained earnings C 79,895 Cost of sales G (340,700)

Total stockholder equity $90,595 Gross Profit 106,200

Total Liabilities and stockholder equity $162,510 Depreciation (9,000)

Selling, general, and administrative (85,400) Income from operations 11,800 Interest expense (1,800)

Other income 2,000 Earnings before taxes 12,000 Income taxes (3,280) Net Income $8,720