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The balance sheet and income statement for Joes Fish Hut are presented below: NEED ANSWERED ASAP please! The balance sheet and income statement for Joe's
The balance sheet and income statement for Joes Fish Hut are presented below:
The balance sheet and income statement for Joe's Fish Hut are presented below: Joe's Fish Hut Balance Sheet As at October 31 2018 2017 ASSETS Current Assets Cash $142,938 $66,100 Accounts receivable Merchandise Inventory Total Current Assets Equipment(1) Less. Accumulated depreciation TOTAL ASSETS $17,400 $15,700 $21,300 $26,300 $181,638 $108, 100| $ 139,000 $191,000 5-28,800 5-20,300 $291,838 5278,800 LIABILITIES AND EQUITY liabilities Current Liabilities Accounts payable $25,800 $40,600 Notes payable-current portion $8.300 $8,300 Total Current Liabilities 534,100 $48.900 Notes payable-noncurrent portion $76.000 556.000 TOTAL LIABILITIES $110.10015104.900 Stockholders' Equity Common stock $67,000 $58,600 Retained earnings(2) $114,738 $115,300 TOTAL STOCKHOLDERS' EQUITY $181,738 $173,900 TOTAL LIABILITIES AND EQUITY $291,838 $278,800 Additional Information: 1. Equipment During 2018, equipment was sold for a gain of $5,800. The cash proceeds from the sale totaled $57.800. 2. Retained Earnings Joe's Fish Hut declared and paid $10,000 in dividends in 2018. Joe's Fish Hut Income Statement For the Year Ended October 31, 2018 Sales $123,000 COGS $79.950 Gross Profit $43.050 Operating Expenses Depreciation Expense $8.500 Other operating expenses $25.830 Total Operating Expenses 534330 Operating Income 58.720 Other Income Joe's Fish Hut Income Statement For the Year Ended October 31, 2018 Sales $123,000 COGS $79,950 Gross Profit $43,050 Operating Expenses Depreciation Expense $8,500 Other operating expenses $25,830 Total Operating Expenses $34,330 Operating Income $8,720 Other Income Gain on Sale of Equipment $5,800 Net Income Before Tax $14,520 income Tax $5,082) Net Income $9,438 Create the cash flow statement using the indirect method. Do not enter dollar signs or commas in the input boxes, Use the negative sign for a decrease in cash Joe's Fish Hut Cash Flow Statement LLA e to search Change in Accounts Payable Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Sale of equipment Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Sale of common stock Receipt of notes payable Payment of cash dividend Net Cash Provided (Used) by Financing Activities Net increase (decrease) in cash Cash at the beginning of the year Cash at the end of the year NEED ANSWERED ASAP please!
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