Suppose the income statement for Goggle Company reports $163 of net income, after deducting depreciation of $18. The company bought equipment costing $145 and obtained a long-term bank loan for $148.

Required:

1.

Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities (+ for increase and for decrease)

	Previous Year	Current Year	Change		Type
Cash	$52	$369
Accounts Receivable	92	209
Inventory	345	152
Equipment	585	730
Accumulated Depreciation - Equipment	(28)	(46)
Total	$1,046	$1,414
Salaries and Wages Payable	$27	$84
Notes Payable (long-term)	462	610
Common Stock	27	27
Retained Earnings	530	693
Total	$1,046	$1,414