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PROBLEM V-CFS (12 POINTS) The following are the accounting records of the Mindy Company at the end of 2015 Statement of Income Sales Cost of
PROBLEM V-CFS (12 POINTS) The following are the accounting records of the Mindy Company at the end of 2015 Statement of Income Sales Cost of sales Depreciation expenses Other exDENSE Loss on sale of plant assets Interest Expeose Income Tax Expense $73,000 (25,000) (14,000) (18,000) (3,000) (4,000) (2,000) Net incomen Comparative Balance Sheets 201 201 528,000 42,000 36,000 7,000 150,000 (50,000) 520,000 26,000 21,000 3,000 120,000 (40,000) Cash Plant Assets Accumulated Depreciatiso Total 211,000 150,000 Income Taxes Payableam Common Stock Retained Earoi 94,000 1,000 90,000 28,000 73,000 2,000 40,000 35,000 211.000 150,000 Additional information: A machine with a cost of $12,000 and accumulated depreciation of $4,000, was disposed of for $5,000. This ransaction is important to determine the amount of Plant Assets actually purchased by cash. It isprobably best to use T accounts to hel von determine the increase in Plant Assets. a. b. All of the dividends were cash Analyse Retained Earnings to determine the gnawof dividends. Complete the following, and please show all work. You may detach this sheet but do not forget to submit with your
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