The balance sheets at the beginning and end of the most recent fiscal year of a manufacturing company in the northern part of the country are shown below. During that fiscal year, the company earned net earnings after taxes of 114 and paid 30 as dividends. Prepare a statement of changes in financial position. Briefly discuss your results.

Show the entire procedure performed and formulas used.

 

Start End Cash 45 21 Marketable securities 33 Accounts receivable 66 90 Inventories 159 225 Total current assets 303 336 Gross fixed assets 225 450 Less: accumulated depreciation -78 -123 Net fixed assets 147 327 Total Assets 450 663 Accounts payable 45 54 Notes payable 45 9. Other current liabilities 21 45 Total current liabilities 111 108 Long-term debt 24 78 Total liabilities 135 186 Common stock 114 192 Retained earnings 201 285 Total liabilities and equity 450 663