The financial statements of Flathead Lake Manufacturing Company are shown below: Flathead Lake Manufacturing Income Statement 2017 Sales Cost of Goods Sold Depreciation Expense Gross Profit Selling and Administrative Expenses EBIT Interest Expense Income before Tax Taxes Net Income $9,950,000 5,815,000 576,000 $3,559,000 2,850,000 $ 709,000 265,000 $ 444,000 286,000 $ 158,000 Flathead Lake Manufacturing Comparative Balance Sheets 2017 2016 Cash $ 48,000 $ 39,000 Accounts Receivable 637,000 663,000 Inventory 610,000 533,000 Total Current Assets $1,295,000 $1,235,000 Fixed Assets 2,180,000 $1,517,000 Total Assets $3,475,000 $2,752,000 Accounts Payable $ 322,000 $ 277,000 Bank Loans 3,000 417,000 Total Current Liabilities $ 815,000 $ 694,000 Long-term Bonds 1,630,000 1,195,000 Total Liabilities $2,445,000 $1,889,000 Common Stock (200.000 shares) 200.000 200.000 Connect education.com/ext/map/index.html?_con=con&external_browser=0&launchurl=https%253A%252F%252Fnewconnect.mheducation.com%. Shopify 4pcs Microfiber CL > Import to Loox * Chapter 14 Homework Saved Help Sav Common Stock (200,000 shares) Retained Earnings Total Equity Total Liabilities and Equity 200,000 200,000 830,000 663,000 $1,030,000$ 863,000 $3,475,000 $2,752,000 Note: The common shares are trading in the stock market for $10 per share Refer to the financial statements of Flathead Lake Manufacturing Company. The firm's cash flow from operating activities for 2017 was Multiple Choice $785.000 $734.000 $728.000 The financial statements of Flathead Lake Manufacturing Company are shown below: Flathead Lake Manufacturing Income Statement 2017 Sales Cost of Goods Sold Depreciation Expense Gross Profit Selling and Administrative Expenses EBIT Interest Expense Income before Tax Taxes Net Income $9,950,000 5,815,000 576,000 $3,559,000 2,850,000 $ 709,000 265,000 $ 444,000 286,000 $ 158,000 Flathead Lake Manufacturing Comparative Balance Sheets 2017 2016 Cash $ 48,000 $ 39,000 Accounts Receivable 637,000 663,000 Inventory 610,000 533,000 Total Current Assets $1,295,000 $1,235,000 Fixed Assets 2,180,000 $1,517,000 Total Assets $3,475,000 $2,752,000 Accounts Payable $ 322,000 $ 277,000 Bank Loans 3,000 417,000 Total Current Liabilities $ 815,000 $ 694,000 Long-term Bonds 1,630,000 1,195,000 Total Liabilities $2,445,000 $1,889,000 Common Stock (200.000 shares) 200.000 200.000 Connect education.com/ext/map/index.html?_con=con&external_browser=0&launchurl=https%253A%252F%252Fnewconnect.mheducation.com%. Shopify 4pcs Microfiber CL > Import to Loox * Chapter 14 Homework Saved Help Sav Common Stock (200,000 shares) Retained Earnings Total Equity Total Liabilities and Equity 200,000 200,000 830,000 663,000 $1,030,000$ 863,000 $3,475,000 $2,752,000 Note: The common shares are trading in the stock market for $10 per share Refer to the financial statements of Flathead Lake Manufacturing Company. The firm's cash flow from operating activities for 2017 was Multiple Choice $785.000 $734.000 $728.000
