Statement of Cash Flow
	Quarter 3
Net Income	$609
Increase in Parts	$2,400
Decreased Finished Goods	($750)
Depreciation	$250
Increase in receivable	$0
Increase in payable	$0
Increase in tax payable	$0
Cash flow from operations	$2,509
Purchase warehouse	($20,000)
Cash flow from investing	($20,000)
Sale of bonds
Issuing Common Stock	$1,200
Cash dividends	($182)
Cash flow from financing	$1,018
Cash flow from operations
Cash flow from investing
Cash flow from financing
Total Cash Flow
Beginning Cash
Total Cash Flow
End

Can you help me find tax payable in Liabilities & Equity? i provided all completed information down below.

Liabilities & Equity
		Quarter 2	Quarter 3
Account payable		$500	$500
Tax Payable		$0	$0
Long term debt		$8,000	$20,000
Total Liability		$8,500	$20,500
Common Stock		$4,000	$5,200
Retained Earnings		$1,400	$1,645
Paid-in-Surpus		$5,000	$5,000
Total Liabilities & Equity		$27,400	$52,845

The balance sheet of DCC Corp., as of the end of Quarter 2, is provided below.

Assets

Liab. & Owners Equity

Cash

$11,300

Accounts payable

$500

A/R

$1,000

Inventory

Long-term debt

$8,000

parts

$600

Common Stock

$4,000

finished goods

$6,000

($2 par value)

Paid-in-surplus

$5,000

Retained Earnings

$1,400

Total Assets

$18,900

Liab. & Owners Equity

$18,900

During Quarter 3:

DCC purchased $3000 worth of parts, $1400 with cash, the remainder to be paid in Quarter 4.

Sold 6 computers, each for $750.

4 were sold for cash, 2 were sold on credit with payment to be received in Quarter 4.

The gross margin was 36%

Annual interest rate on LTD was 3.2%. Interest is paid and expensed quarterly.

SG&A expenses = $600 was paid in Quarter 3

The tax rate is 35% and Quarter 3 taxes will be paid in Quarter 4

The dividend payout ratio (dividends/Net Income) is 30% (paid immediately)

200 new shares of common stock were issued and sold for $1200 in Quarter 3

Purchased the warehouse DCC is located in for $20,000 cash on the first day of Quarter 3

$12,000 long-term debt was issued on the first day of the quarter

The warehouse will be depreciated over 20 years. Depreciation is expensed quarterly. (Hint: Depreciated with straight line, i.e., every period the same amount. There are 20*4=80 periods, since quarterly for 20 years).

Create the Q3 income statement and the Q3 ending balance sheet.

Income Statement
	Quarter 3
Sales	$4,500
COGS	$1,620
SG&A	$600
Dep Exp	$250
Operating Profit	$1,030
Interest Expense	$64
Income Before Tax	$936
Provision For Tax	($327)
Net Income	$609
Dividends	($182)
Retained Earnings	$427

Balance Sheet
Asset		Quarter 2	Quarter 3
Cash		$11,300	$11,300
Account Receivable		$1,000	$1,000
Inventory
	Parts	$600	$600
	Finish Goods	$6,000	$6,000
Total Current Asset		$18,900	$18,900
Warehouse		$0	$20,000
Total Assets		$18,900	$38,900