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Use the Data from the following financial statements in the popup window. The company paid interest expense of $18,900 for 2017 and had an overall
Use the Data from the following financial statements in the popup window. The company paid interest expense of $18,900 for 2017 and had an overall tax rate of 40% for 2017. Verify the cash flow identity:
The cash flow from assets is $: ____
Sales revenue | 349800 | ||
Cost of goods sold | 142000 | ||
Fixed costs | 42800 | ||
Selling, general, and administrative expenses | 28200 | ||
Depreciation | 46000 | ||
Partial Balance Sheet as of 2016 | |||
ASSETS | LIABILITIES | ||
Cash | 15900 | Notes payable | 13900 |
Accounts receivable | 28100 | Accounts payable | 18800 |
Inventories | 48000 | Long-term debt | 190200 |
Fixed assets | 368200 | OWNERS' EQUITY | |
Accumulated depreciation | 142500 | Retained earnings | |
Intangible assets | 81900 | Common stock | 132000 |
Partial Balance Sheet as of 2017 | |||
ASSETS | LIABILITIES | ||
Cash | 25800 | Notes payable | 12200 |
Accounts receivable | 19200 | Accounts payable | 23800 |
Inventories | 52900 | Long-term debt | 161800 |
Fixed assets | 448200 | OWNERS' EQUITY | |
Accumulated depreciation | Retained earnings | ||
Intangible assets | 81900 | Common stock | 182000 |
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