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Question 31-33 USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS NikoJokic, Inc. Balance Sheets for the Years Ending December 31,
Question 31-33
USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS NikoJokic, Inc. Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Year 1 Year 2 Cash 174,300 142,560 Accounts receivable 278,880 178,200 Inventory 1,812,720 2,031,480 Total current assets 2,265,900 2,352,240 Gross fixed assets* 1,743,000 1,817,640 (Accumulated depreciation) (522,900) (605,880) Net fixed assets 1,220,100 1,211,760 Total assets 3,486,000 3,564,000 Notes payable 278,880 356,400 Accounts payable 627,480 677,160 Accruals 69,720 106,920 Total current liabilities 976,080 1,140,480 Long-term debt 488,040 249,480 Common stock 104,580 178,200 Capital surplus 1,045,800 1,104,840 Retained earnings 871,500 891,000 Total liabilities and equity 3,486,000 3,564,000 Additional Data from Company Income Statement(s): Sales in Year 2 7,128,000 142,560 Net income in Year 2 *No long-term assets were sold in either Year 1 or Year 2 31. What did Niko Jokic, Inc. report as Net Cash Flow from Operating Activities for Year 2? 32. What did NikoJokic, Inc. report as Net Cash Flow from Investing Activities for Year 2? 33. What did NikoJokic, Inc. report as Net Cash Flow from Financing Activities for Year 2Step by Step Solution
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