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The management team of Wickersham Brothers Inc. is preparing its annual financial statements. The statements are complete except for the statement of cash flows. The
The management team of Wickersham Brothers Inc. is preparing its annual financial statements. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statements are summarized 25 points current Year Prior Year 8 00:22.30 Slipped 83,100 112, 84, eee 158, eee (45,120) $391,980 3103, 200 98,990 91,eee 84, eee (23,eee) $353,200 eBook Balance Sheet Assets Cash Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreciation Total assets Liabilities: Accounts payable Salaries and wages Payable Notes payable, long-term Stockholders' Equity: Common stock Retained earnings Total liabilities and stockholders' equity Income statement Sales Cost of goods sold Depreciation expense other expenses Net Income $ 14, eee 2, Bee 7e,eee $ 16,800 1,488 84,00 132, eee 173, 180 $391,980 112, eee 139, ee $353,200 $360, eee 190, eee 22,120 98,eee $ 57,880 Other Information from the company's records includes the following . Bought equipment for cash, $74,000. Paid $14.000 on long-term note payable. Issued new shares of common stock for $20,000 cash Cash dividends of $23.700 were declared and paid to stockholders. Accounts Payable arose from inventory purchases on credit Graw
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