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Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed
Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.) Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2021. Accounts Payable Accounts Receivable $159,000 29,000 Cash (balance on September 1, 2020) 89,000 Cash (balance on August 31, 2021) 98,000 Common Stock 100,000 12,000 Dividends Equipment Notes Payable Office Expense Prepaid Rent Retained Earnings (beginning) 769,000 44,000 165,000 71,000 424,000 1,025,000 Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Supplies Utilities Expense Other cash flow information: Additional investments by stockholders Cash paid to purchase equipment Cash paid to suppliers and employees Repayments of borrowings Cash received from customers Cash received from borrowings Dividends paid in cash 184,000 1,904,000 46,000 600,000 $ 45,000 58,000 1,534,000 169,000 1,731,000 6,000 12,000
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