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Please hurry UP!!! 6. Prepare a flow of finds statement (sources and uses) for the Corporation Imany Corporation, Balance Sheet, December 31, 2018 / December
Please hurry UP!!!
6. Prepare a flow of finds statement (sources and uses) for the Corporation Imany Corporation, Balance Sheet, December 31, 2018 / December 31, 2019. 2018(S) 2019(S) ASSETS Cash 5 3 Accounts receivable 15 22 Inventories 12 15 Fixed assets, net 50 55 Other assets 8 5 TOTAL ASSETS 90 100 LIABILITIES AND EQUITY Notes payable 20 0 Accounts payable 5 8 Accrued wages 2 2 Accrued taxes 3 5 Long-term debt 0 15 Common stock 20 26 Retained earnings 40 44 TOTAL LIABILITIES AND 90 100 SHAREHOLDERS' EQUITY Imany Corporation Statement of Income and Retained Earnings (31/12/2019) 2019(S) Net sales 48 Cost of goods sold 25 Selling, general, and administrative expenses 5 Depreciation 5 Interest 2 Net income before taxes 11 Taxes (37%) 4 Net income 7 Retained earnings (31/12/2018) 40 Subtotal 47 Dividends Retained earnings (31/12/2019) 44 3Step by Step Solution
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