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Pag 3 8 Next Page Previous Page Ware Company declared and paid $89,000 in cash dividends during the year. The Company's comparative balance sheet and
Pag 3 8 Next Page Previous Page Ware Company declared and paid $89,000 in cash dividends during the year. The Company's comparative balance sheet and income statement for last year appear below. No dispositions of plant and equipment occurred during the year. Question 21 (2 points) Statement of Financial Position Ending Beginning Balance Balance $ 38,000 $ 23,000 Accounts receivable 31,000 39,000 Inventory 38,000 $ 23,000 Cash. 31,000 39.000 nm26.000 38,000 21.000 12.000 Accounts receivable.... Inventory.... Prepaid Long-term 250,000 220,000 Plant and equipmen 410,000 360,000 Accumulated depreciation.... (262000) (222000) $514.000 $470.000 ssets. 250,000 220,000 Long-term investments Plant and equipment 410,000 360,000 Accumulated (262.000) (222.000) Total assets $514000 $470,000 Accounts payable nrermananmm$ 75000 $ 53000 Accrued 9,000 23,000 49,000 38,000 100,000 130,000 Ta 9,00 23,000 40,000 38,000 100,000 130,000 80,000 60,000 ,000 166.000 $514,000 $470,000 Accrued abilities... Taxes payable. Bonds Common stock.nmm Retained e Total liabilities and owners' equity Income Statement Sal $290,000 Less cost of goods d. 510,000 Income Statement .. $990,000 Sale Less cost of goods 510,000 Gross 480,000 Less operating expenseS 290.000 Net operating income 190,000 Less income 57/000 Less income 570 Net $133,000 The net cash provided by (used in) operating activities last year was $194,000 $133,000 $173,000
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