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Plz help!! 8. (15 marks) The comparative balance sheet of a company for the years 2019 and 2020 is given. If the net income in
Plz help!!
8. (15 marks) The comparative balance sheet of a company for the years 2019 and 2020 is given. If the net income in the year 2020 is $20,000, prepare statement of cash flow for the year 2020. (On right side of the page) 2019 2020 Statement of Cash Flows in 2020 Operating Activities Net Cash Flow from Operating Activities: Investing Activities: Net Cash Flows from Investing Activities Financing Activities: Net Cash Flows from Financing Activities: Net Cash Flows in 2020: 5 Cash at the beginning of 2020 S Cash at the end of 2020: $ Cash 10,000 14,000 AR 13,000 5,000 Inventory 12.000 9,000 Supplies 13.000 14.000 Total CA 38.000 32.000 Furniture 27.000 28.000 Equipment 128.000 132,000 Ace Dep 125,000|29,000 Total Long term Assets 130.000 111.000 Total Assets 168.000 161.000 Current Liabilities AP 4.000 15.000 W/P 8.000 Total Current Liabilities 11.000 13.000 Long term Liabilities MP 85.000 175.000 Total Liabilities 96.000 1.000 Stockholders' Equity Common Stock $2.000 39,000 Retained Farnings 20.000 16.000 Total SE 72.000 75.000 17.000 Total L+SE 168.000 163.000 11. (20 marks) Tanya is the manager of a restaurant in downtown Vancouver. Tanya's boss has established performance targets that determines the amount of bonus Tanya will receive each month. The performance is evaluated in 5 separate categories. Tanya can receive a 2% salary bonus for each of the 5 targets she achieves. Tanya earns a 2% bonus when she meets any of the following criteria: 1. Her food cost is 25% or less. 2. Her total cost of sales is 24% or less. 3. Her total labor cost is 30% or less. 4. Her beverage cots is 20% or less 5. Her prime costs are less than 60% of total sales. Complete the following table, then perform a vertical analysis based on Total Sales, and answer the questions that follows. This Month% SALES Food 70,000 Beverage 50,000 Total Sales COST OF SALES Food 21,000 Beverage 9,000 Total Cost of Sales LABOR Management 17.000 Starr 21.000 Employee Benefits 2.000 Total Labor Cost PRIME COST a. Did Tanya achieve her targeted food cost percentage? (Why) b. b. Did Tanya achieve her targeted cost of sales percentage? (Why) c. Did Tanya achieve her targeted beverage cost percentage? (Why) d. Did Tanya achieve her targeted total labor cost percentage? (Why) e. Did Tanya achieve her targeted Prime cost percentage? (Why) f. What % of her monthly salary will Tanya receive as a bonus this month? (Why) Step by Step Solution
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