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Smith Corporation Comparative Balance Sheets At December 31 2019 2018 Assets: Cash Accounts receivable $24,640 32,180 Merchandise inventory Equipment Accumulated depreciation Total assets 73,125 231,400
Smith Corporation Comparative Balance Sheets At December 31 2019 2018 Assets: Cash Accounts receivable $24,640 32,180 Merchandise inventory Equipment Accumulated depreciation Total assets 73,125 231,400 (33,550) $327,795 $23,040 29,400 61,710 201,900 (31,200) $284,850 $75,725 48.750 $124,475 $50,580 66,000 $116,580 Liabilities: Accounts payable Long-term notes payable Total liabilities Equity: Common stock Retained earnings Total equity Total liabilities and equity 130,000 73,320 $203,320 $327,795 105,000 63.270 $168.270 $284,850 Smith Corporation Income Statement For Year Ended December 31, 2019 $240,000 $80,900 29,400 Sales Cost of goods sold Depreciation expense Other operating expenses Interest expense Other gains (losses): Loss on sale of equipment Income before taxes Income taxes expense 48,000 2.000 (160,300) (8.400) 71,300 27,650 Additional information: (1) No new debt was obtained. (2) Old equipment with an original cost of $38,050 was sold for $2,600 cash. (3) New equipment was purchased for $67,550 cash. (4) The only changes in the retained earnings account were cash dividends paid and net income. (5) Additional share of common stock were issued for cash. Fill in the blanks to complete the cash flows from operating activities section of the statement of cash flows for 2019 descriptive words, and the blanks in the middle and right columns should contain numerical amounts. Use the word a you see the answer in the number and word bank. For the best auto grading results, please use the exact order that w balance sheet for the accounts you use from that statement. Do the best you can with order, and auto grading errors answers. Any negative numbers should be shown with parentheses as shown in the word and number bank below the Smith Corporation Statement of Cash Flows For Year Ended December 31, 2019 Cash flows from operating activities: $ Net cash by operating activities $
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