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The following data are based on information in the 2019 annual reports of AAA Accounting Corporation and Tax Time Software, Incorporated. Dollar amounts are in
The following data are based on information in the 2019 annual reports of AAA Accounting Corporation and Tax Time Software, Incorporated. Dollar amounts are in millions. AAA Accounting Corporation has subsidiaries that provide tax, investment, retail banking, accounting, and business consulting services and products. Tax Time Software, Incorporated is the company that sells a popular tax preparation software and an accounting software. Assets Liabilities Stockholders' equity Revenues Expenses Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Cash balance at the beginning of 2019 AAA Accounting $ 3,900 2,713 1,187 3,029 2,674 659 (146) (386) 1,639 Tax Time Software $ 6,235 2,540 3,695 6,741 5,207 2,361 (577) (1,039) 1,624 Required a. Calculate each company's net income and net change in cash for 2019. b. Calculate each company's ending cash balance for 2019
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