Summarized versions of Sanchez Corporation's financial statements for two recent years are as follows.
Requirement
| 1. | Complete Sanchez 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) | | | 2019 | 2018 | | Income Statement | (in Thousands) | | | | | | Revenues | | $16,275 | | Cost of goods sold | 11,010 | | | Other expenses | 1,240 | 1,210 | | Income before income taxes | 1,560 | 1,840 | | Income taxes (35%) | | 644 | | Net income | | | | Statement of Retained Earnings | | | | Beginning balance | | $2,740 | | Net income | | | | Dividends | (90) | (120) | | Ending balance | | | | Balance Sheet | | | | Assets | | | | Cash | | | | Property, plant, and equipment | 1,537 | 1,346 | | Other assets | | 11,915 | | Total assets | | $14,371 | | Liabilities | | | | Current liabilities | | $5,640 | | Long-term debt | 4,700 | 3,350 | | Other liabilities | 1,005 | 1,150 | | Total liabilities | $9,150 | | | Stockholders' equity: | | | | Common stock | $225 | $225 | | Retained earnings | | | | Other stockholders' equity | 160 | 190 | | Total stockholders' equity | | 4,231 | | Total liabilities and stockholders' equity | | | | Cash Flow Statement | | | | Net cash provided by operating activities | | $950 | | Net cash used in investing activities | (290) | (550) | | Net cash used in financing activities | (510) | (550) | | Increase (decrease) in cash | (210) | | | Cash at beginning of year | | 1,260 | | Cash at end of year | | | | |
Data table 2019 2018 Income Statement (in Thousands) $k $ 16,275 Revenues Cost of goods sold a 11,010 1,240 Other expenses 1,210 Income before income taxes 1,560 1,840 1 644 Income taxes (35%) $ m $ b Net income Statement of Retained Earnings Beginning balance $ n$ 2,740 Net income o Dividends declared (90) (120) $p $ d Ending balance Balance Sheet Assets Cash $ 9 $ e Property, plant, and equipment 1,537 1.346 r Other assets 11,915 $s $ 14,371 Total assets Liabilities Current liabilities $t $ 5,640 Long-term debt 4,700 1,005 3,350 1,150 Other liabilities Total liabilities $ 9,150 $f Stockholders' equity: Common stock $ 225 $ 225 Retained earnings u 160 Other stockholders' equity 190 Total stockholders' equity V 4,231 $ w $h Total liabilities and stockholders' equity Cash Flow Statement 950 Net cash provided by operating activities Net cash used in investing activities $ x $ (290) (510) (550) (550) Net cash used in financing activities Increase (decrease) in cash (210) i Cash at beginning of year y 1,260 $ z Cash at end of year Print Done Suruterized versions of Sanchez Corporain's financial statements for two recent years are as follows. Cles the icon to view the frencal slalements. Requirement 1. Complete Senchez Caporationis fencial statemem by cetermining the missing amoun denned by the letters. If necessary round numbes up to the nearest whole dolar. (Round the tax calculation to the nearest thousand dollars. Les parentheses or a minus sign when entering a ne cecrease incash) 2019 2018 Income Statement (In Thousands) Rever Cost of goods and Omer expenses Income before income taxes Income 135 3 18.276 11,010 1,240 1210 1,500 1840 644 Net Incama Statement of Retained Eamings Beginning balance Net income DM $ 2.740 190) 1120) Ending barang Balance Sheet Assets Cash Properly,pnl, and even Other set 1,537 1316 11 915 3 14571 Totalas Llabis Current liabilities Lang-tem de 3 5610 4,700 1,035 3.300 1.100 $ 8,150 1 Others Tolaliabilities Stockholders' Aquity Common stock Hatar End Paris Otterstockholders equity Total stockholders' equity 3 225 225 100 160 4231 Total and stockholders equity 1280) 1510) 1650) 1550) Cash Flow Statement Nutcash provided by ring a Nel cast used in investigacies Net Gashed in thacrates Trade (decrease in cash Cash alberging of year Cash alend of year (210) 1260
