PART 1: On January 1, 2019, Mulcahy Manufacturing Inc., a newly formed corporation, issued 1,500 shares of common stock in exchange for $240,000 cash. No other shares were issued during 2019, and no shares were repurchased by the corporation. On November 1, 2019, the corporations major stockholder sold 300 shares to another stockholder for $60,000. The corporation reported a net income of $37,000 for 2019.

REQUIRED: Prepare the stockholders equity section of Mulcahys balance sheet on December 31, 2019.

PART 2: Statement of Cash Flows

Walters Inc. began operations on January 1, 2019. The following information relates to Walters' cash flows during 2019.

Cash received from owners	$201,400
Cash paid for the purchase of land and building	128,100
Cash paid for advertising	34,200
Cash received from customers	140,100
Cash paid to purchase a machine	33,600
Cash paid to employees for salaries	46,400
Cash paid for dividends to stockholders	37,200
Cash paid for supplies	28,700

REQUIRED: Calculate the cash provided/used for each cash flow category. If a net amount is negative (a cash outflow), enter your answer as a negative number.

Net cash provided by operating activities	$
Net cash used by investing activities	$
Net cash provided by financing activities	$

PART 3:Classified Balance Sheet

Jerrison Company operates a wholesale hardware business. The following balance sheet accounts and balances are available for Jerrison at December 31, 2019.

Accounts payable		$ 65,100		Equipment, data processing	$309,000
Accounts receivable		95,500		Income taxes payable	25,600
Accumulated depreciation				Interest payable	12,600
	(on building)	216,800		Inventory	187,900
Accumulated depreciation				Investments (long-term)	32,700
	(on data processing equipment)	172,400		Investments (short-term)	19,000
Accumulated depreciation		31,200		Land	41,000
	(on trucks)			Notes payable (due June 1, 2020)	160,000
Bonds payable (due Aug. 30, 2023)		200,000		Prepaid insurance (for 4 months)	5,700
Building (warehouse)		419,900		Retained earnings, 12/31/2019	?
Cash		12,400		Salaries payable	14,400
Common stock		150,000		Trucks	106,100

REQUIRED: Stockholders' Equity

Common stock amount

Retained earnings amount

Total stockholders' equity amount

Total liabilities and stockholders' equity amount

REQUIRED: Compute Jerrison's working capital and the current ratio at December 31, 2019. Round the current ratio answer to two decimal places.

Working Capital	$
Current Ratio	$