The Walton Corporation reported the following income statement for 2018 and comparative balance sheet for 2018
and 2017, along with transaction data for 2018:
TwWaten Cupid fulawin (za 2012 .. maipaliw tulostus 2015./2017. akury will be cale bat 2018 Chiw New Cis. zal income !!! O UN Frepare Waton Corporation chatoment of cachows for the year ended December 31, 2010.ramat cash now from operating are by the Indirect rrethos. (Una mne sign or parenthoces for amounis that result in a dorosce in cach. If a box is not read in the statement. In the box cipy: do not select a cate or more) Walion Corporation Start lehow Year Ended December 11, 2018 Cash Fowlane Oy A. NIR Adjustments to Reconcic Net Income to Net Cach www by Ow Nn Chery parating Art Cash Fow from Westings: Nel Cul Publin Avis Cache high Net Con Provided by used for hancing Acties Nel Dein Cast Cash Balance, December 31, 2017 Cashie, Umh31, 2016 Nanoh ringar Tua Nerading and Finli Ati Data Table Walton Corporation Comparative Balance Sheet December 31, 2018 and 2017 Increase 2018 2017 (Decrease) Assets Current Assets Cash $ 90,000 $ 12,000 $ 78,000 Accounts Receivable 9,000 20,000 (11,000) Merchandise Inventory 45,000 33.000 12,000 Long-term Assets: Plant Assets 110,700 (22,700) 96,700 (24,700) 14,000 2,000 Accumulated DepreciationPlant Assets $ 232,000 $ 137,000 $ 95,000 Total Assets Liabilities Current Liabilities: Accounts Payable $ 33,000 $ 20,000 $ 13,000 1,000 11,000 (10,000) Accrued Liabilities Income Tax Payable 5,000 5,000 0 Long-term Liabilities: Bonds Payable 74,000 50,000 24,000 Total Liabilities 113,000 86,000 27,000 Stockholders' Equity Common Stock, no par 55,000 18.000 37,000 34,000 Retained Earnings 71,000 37,000 Treasury Stock (7,000) (4,000) (3.000) Total Stockholders' Equity 119,000 51,000 68,000 $ 232,000 $ 137,000 $ 95.000 Total Liabilities and Stockholders' Equity Print Done S 100,000 14,000 Transaction data for 2018 Cash paid for purchase of equipment Cash payment of dividends Issuance of common stock to retire bonds payable Issuance of bonds payable to borrow cash Cash receipt from issuance of common stock Cash receipt from sale of equipment (Cost, $86,000; Accumulated Depreciation, $16,000) Cash paid for purchase of treasury stock 16,000 40,000 21,000 60.000 3,000 Data Table Walton Corporation Income Statement Year Ended December 31, 2018 Net Sales Revenue S 679,000 530,000 149,000 $ 50,000 14.000 7,000 Cost of Goods Sold Gross Profit Operating Expenses Salaries and Wages Expense Depreciation ExpensePlant Assets Rent Expense Total Operating Expenses Operating Income Other Income and (Expenses): Loss on Disposal of Plant Assets Total Other Income and (Expenses) Net Income Before Income Taxes 71,000 78,000 (10,000) (10,000) 68,000 20.000 Income Tax Expense 48,000 Net Income Print Done
