The answer is not 15500, Please help! Provided all relevant information
T. P. Jarmon Company Balance Sheet for 12/31/2017 and 12/31/2018 Assets 2017 2018 Cash $ 15,000 Marketable securities Accounts receivable Inventory 6,000 42,000 51,000 1,200 13,800 6,200 32,900 83,520 1,200 Prepaid rent $ 115,200 $ 137,620 Total current assets Net plant and equipment $ 286,000 $ 270,500 $ 408,120 $ 401,200 Total assets Accounts payable Liabilities and Equity 2017 $ 48,000 6,000 15,000 $ 2018 57.100 5,200 13,100 Accruals Notes payable Total current liabilities $ 69,000 $ 75,400 $ 160,000 $ 150,500 Long-term debt $ 172,200 Common stockholders' equity $ 182,220 $ 408,120 $ 401,200 Total liabilities and equity T. P. Jarmon Company Income Statement for Years Ended 12/31/2018 Sales $ 599,500 460,100 $ 139,400 Less cost of goods sold Gross profit Operating and interest expenses General and administrative $ Interest 29,800 9,900 30,000 Depreciation $ 69,700 Total operating and interest expenses Earnings before taxes $ Taxes 69,700 27,880 41,820 31,800 $ Net income available to common stockholders Cash dividends $ 10,020 Change in retained earnings Homework: Homework 3 Save Score: 0.11 of 2 pts 5 of 5 (5 complete) HW Score: 70.88%, 7.09 of 10 pts W Problem 3-16 (similar to) Question Help :, for T. P. Jarmon Company for the year ended December 31, (Working with financial statements) Based on the balance sheet, B., and income statement, 2018: a. How much is the firm's net working capital and what is the debt ratio? b. Complete a statement of cash flows for the period. c. Compute the changes in the balance sheets from 2017 to 2018. The net working capital is $ 62220. (Round to the nearest dollar.) The debt ratio is 55.4 %. (Round to one decimal place.) b. Complete a statement of cash flows for the period. Complete the operating activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: Input cash inflows as positive values and cash outflows as negative values.) Statement of Cash Flows Cash flows from Operating Activities Net income 41,820 Adjustments Depreciation 30,000 (200) 9,100 Increase in marketable securities Decrease in accounts receivable Prepaid expenses Increase in inventories (less A/P) (23,420) (800) Decrease in accruals Net cash provided by operating activities 56,500 Complete the investing activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: Input cash inflows as positive values and cash outflows as negative values.) Statement of Cash Flows (Cont'd) Cash Flows from Investing Activities Increase in gross plant and equipment 15500 Net cash provided (consumed) by investing activities $ 15500 Enter any number in the edit fields and then click Check
