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The Carmichael Company started operations this month and had the following transactions 1. Owners invested $20,000 to start the company 2. Sold $3,000 of services
The Carmichael Company started operations this month and had the following transactions 1. Owners invested $20,000 to start the company 2. Sold $3,000 of services to customers 3. Purchased $1,500 of equipment on account 4. Paid $1,700 for office rent 5. Borrowed $2,200 from a bank 6. Paid payroll of $6,300 7. Paid dividends of $300 8. Paid $500 owed to suppliers (from transaction 3) Create a tabular analysis and record the transactions above; use your results to prepare a statement of cash flows, income statement, statement of retained earnings and balance sheet for the month and then answers the questions that follow. Question 1 1 pts What was the company's net cash flows from financing activities? Use a positive number to indicate a net cash inflow or a negative number to indicate a net cash outflow. Question 2 What was the company net income? Question 3 What was the company's ending retained earnings? Question 4 What was the company's ending cash balance? What was the company's ending retained earnings? Question 4 What was the company's ending cash balance? 3 Question 5 What were the company's total liabilities
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