Question
Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-31 [The following information applies to the questions displayed below.]
Reporting Amounts on the Four Basic Financial\ Statements and Evaluating Financial Statements [LO 1-2,\ LO 1-31\ [The following information applies to the questions displayed below.]\ EZ Fitness, Incorporated, reported the following information for the six-month period ended June 29, 2019. Items are listed alphabetically and are in thousands of dollars.\ Accounts Payable\ Accounts Receivable\ Advertising Expense\ Cash (January 1, 2019)\ Cash (June 29, 2019)\ Common Stock\ Dividends\ Equipment\ Income Tax Expense\ Inventory\ Notes Payable\ Office Expense\ Operating Expenses\ Retained Earnings (January 1, 2019)\ Sales Revenue\ Supplies\ $ 1,028,300\ 590,000\ 69,600\ 1,383, 600\ 1,066,000\ 1,519,000\ 309,600\ 3,065,600\ 78,600\ 648,600\ 347,900\ 656,600\ 693,600\ 2,725,600\ 1,726, 000\ 168,600\ Other cash flow information:\ Cash received from issuing common stock\ Cash paid to purchase equipment\ Cash paid to suppliers and employees\ Cash received from customers\ Cash received from sale of long-term assets\ Dividends paid to stockholders\ $ 57,600\ 529,600\ 1,431,600\ 1,712,000\ 183, 600\ |309,600
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