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Summarized versions of the Praline Corporation's financial statements are given for two years ES: (Click the icon to view the financial statements.) Requirements Requirement 1.
Summarized versions of the Praline Corporation's financial statements are given for two years ES: (Click the icon to view the financial statements.) Requirements Requirement 1. Determine the missing amounts denoted by the letters. Calculate the missing amounts. When calculating the answers, you may need to solve for a missing value farther down the statement and work backward (Enter amounts in thousands as provided to you in the problem statement Enter decreases in cash with parentheses or a minus sign.) 2020 2019 Income Statement Revenues Cost of goods sold 17360 $ 15,750 11500 11.500 1,260 1,160 4,600 Other expenses Earnings before income taxes Income taxes (35% tax rate) 3,760 1 316 1610 Net earnings Statement of Retained Earnings S 2,710 Beginning balance Net earnings (305) (201) Dividends Ending balance Requirements Balance Sheet Assets: Cash Capital assets 1,700 1.850 10,443 Other assets 14,313 Total assets Liabilities: 5,650 Current liabilities Notes payable and long-term debt 4,700 60 3,330 180 $ 9,310 Other liabilities Total liabilities Shareholders' Equity: 200 $ 200 Common shares 5,153 Retained earnings Total shareholders' equity Total liabilities and shareholders' equity Statement of Cash Flows Net cash provided by operating activities Net cash used in investing activities $ (970) (660) 1,860 (870) (1,040) Net cash used in financing activities Increase (decrease) in cash Cash at beginning of year 440 2,070 Cash at end of year
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