Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 26 3.75 pts Use the following information to answer this question: 2021 Income Statement ($ in thousands) Net sales $5,790 Cost of goods 4,150
Question 26 3.75 pts Use the following information to answer this question: 2021 Income Statement ($ in thousands) Net sales $5,790 Cost of goods 4,150 sold 325 Depreciation Earnings before Interest and taxes $1,315 27 Interest pald Taxable Income $1,288 Taxes 270 Net income $1,018 Bayside, Incorporated 2020 and 2021 Balance Sheets ($ In thousands) 2020 2021 2020 Cash $80 $185 Accounts payable 1005 Accounts 920 760 Accruals 160 received 2021 980 170 Inventory 1,565 1,970 Notes Payable Total $2,565 $2,915 Total Long-term debt Common stock 220 185 $1,385 $1,335 740 540 3.190 3.210 Net fixed 3,560 3,230 Retained earnings 810 1,060 assets Total Total liabilities & $6,125 $6,145 $6,125 $6,145 assets equity What is the change in financing activities? 0-1791 -1223 O-1652 O-983
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started