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Summarized versions of Heartsong Corporation's financial statements for two recent years are as follows. (Click the icon to view the financial statements.) Requirement 1. Complete
Summarized versions of Heartsong Corporation's financial statements for two recent years are as follows. (Click the icon to view the financial statements.) Requirement 1. Complete Heartsong Corporation's financial statements by determining the missing amounts denoted by the letters. If necessary, round numbers up to the nearest whole dollar. (Round the tax calculation to the nearest thousand dollars. Use parentheses or a minus sign when entering a net decrease in cash) 2022 2021 Income Statement (in Thousands) Revenues $ 16,100 Cost of goods sold 11,030 Other expenses 1,240 1,250 Income before income taxes 1,600 1,860 651 Income taxes (35%) Net income Statement of Retained Earnings Beginning balance Net income Dividends $ 2,720 (96) (80) Ending balance Balance Sheet Assets Cash 1175 Property, plant, and equipment 1,567 1,336 10,918 Other assets $ 13,429 Total assets Liabilities Current liabilities $ 5,640 Long-term debt 4,650 3,320 25 170 Other liabilities Total liabilities $ 9,450 Stockholders' equity: Common stock $ 300 $ 300 Retained earnings Other stockholders' equity Total stockholders' equity 160 150 4,299 Total liabilities and stockholders' equity Cash Flow Statement Net cash provided by operating activities $ 950 Net cash used in investing activities (250) (525) Net cash used in financing activities (540) (490) Increase (decrease) in cash (190) 1,240 Cash at beginning of year Cash at end of year
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