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please answer all, will keave a good review Financial statements of Whitley Corporation for 2022 and 2021 are provided below BALANCE SHEETS 12/31/22 Cash $408,000
please answer all, will keave a good review
Financial statements of Whitley Corporation for 2022 and 2021 are provided below BALANCE SHEETS 12/31/22 Cash $408,000 Accounts receivable 360,000 Inventory 384,000 Property, plant and equip $608,000 $960,000 Less accumulated depres -320,000 288.000 -304.000 $1.440,000 12/31/21 $192.000 216.000 480,000 656,000 $1,544,000 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $176,000 352.000 360,000 216.000 336.000 $1.440,000 $96,000 392,000 600,000 216.000 240.000 $1,544 000 INCOME STATEMENT For the Year Ended December 31, 2022 Sales revenue $8,400,000 Cost of sales 7 152.000 Gross profit 1.248.000 Selling expenses $600,000 Administrative expenses 192,000 792,000 Income from operations 456,000 Interest expenso 72.000 Income before taxes 384.000 Income taxes 95.000 Net income $288,000 ADDITIONAL INFORMATION The following additional data were provided: 1. Dividends for the year 2022 were $192,000 2. During the year, equipment was sold for $240,000. This equipment cost $352,000 originally and had a book value of $288,000 at the time of sale. The loss on sale wa 3. All depreciation expense is in the selling expense category INSTRUCTION 1. The net cash provided by Operating Activities is 2. The net cash provided by Financing Activities is 3. The net cash provided by Investing Activities is Step by Step Solution
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