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Prepare statement of cash flows using Direct method for the period Ending 12/31/2016. Toys For Kids, Inc. Toys For Kids, Inc. ncome statement Balance Sheet
Prepare statement of cash flows using Direct method for the period Ending 12/31/2016.
Toys For Kids, Inc. Toys For Kids, Inc. ncome statement Balance Sheet For the Period Ending 12/31/2016 As of December 31, 2015 and 2016 (Figures in Whole Dollars) (Figures in Whole Dollars) 222,300 Cost of Goods Sold ach 43050 23925 Other Operating Expenses 25,500 Depreciation Expenses 39,825 Accounts Receivables 78,000 Gross Margin 146,475 Merchandise inventory Prepaid Expenses 135,825 146700 other Gain and (Losses) Equipment Loss on Sale of Equipment Accumulated depreciation. Equipment (61,950) 47550) Losson Retirement of Bonds Aivanc 825 4,125 Total Assets 310,650 311.025 Net Income Before Taxes (13,725) Income Taxes Liabilities and Equity Net Income After Taxes Accounts payable Income Taxes Payable Dividends Payable Bonds Payable 168,750 Common Stock Retained Earnings 310,650 311,025 Total Liabilities and Equity Additional Information: S11.100 sold for cash 1. Equipment costing $21,375 with accumulated depreciation of 2. Equipment purchases for cash 3. All sales are made on account 4. Prepaid expenses relate to "other operating expensesStep by Step Solution
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