Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please as soon as possible, i will upvote Income Statement and Balance Sheet for Agnes Corporation for the year ended December 31, 2019 are as

please as soon as possible, i will upvote image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Income Statement and Balance Sheet for Agnes Corporation for the year ended December 31, 2019 are as follow: AGNES CORP. BALANCE SHEET 2018 2019 $47.50 $76.70 AGNES CORP. BALANCE SHEET 2018 2019 Cash $47,50 $76,70 0 0 Accounts receivable 0 43,100 Inventories 49,000 36,500 Total current assets 96,500 156,30 0 Land 15,800 15,800 Buildings 103,60 164,60 0 0 Equipment 63,200 65,500 Buildings 103,60 0 164,60 0 Equipment 63,200 65,500 Patents Less: Accumulated depreciation 5,200 5,200 10,800 12,200 273,50 395,20 0 0 Total assets Accounts payable to suppliers 48,000 25,900 Income taxes payable 0 10,700 Total current liabilities 48,000 36,600 Long term debt 100,10 0 134,00 0 148,10 0 170,60 Total liabilities 0 payable Total current liabilities 0 10,700 48,000 36,600 100,10 134,00 O 0 Long term debt Total liabilities 148,10 0 170,60 0 Shareholders' equity Common stock 125,40 177,40 0 0 Retained earnings 0 47,200 Total shareholders' equity 125,40 224,60 0 0 Total liabilities and shareholders' equity 273,50 395,20 0 0 INCOME STATEMENT 2018 Sales 165,300 Cost of goods sold 46,200 Depreciation expense 1,400 Net interest expense 2,000 Other expense 5,600 Income before taxes 110,100 Provision for income taxes 40,900 Net income 69,200 Other expense 5,600 Income before taxes 110,100 Provision for income taxes Net income 40,900 69,200 Dividends paid Addition to retained earnings 22,000 47,200 Required Using the indirect method, calculate the following Net cash flow from operating activities Net cash flow from investing activities Net cash flow from financing activities Cash ending balance for 2019, (show your calculations)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Cost Of Quality Audit

Authors: W. Jeffrey Howard

1st Edition

1902433629, 978-1902433622

More Books

Students also viewed these Accounting questions

Question

e. What do you know about your ethnic background?

Answered: 1 week ago

Question

b. Why were these values considered important?

Answered: 1 week ago