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USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS NikoJokic, Inc. Balance Sheets for the Years Ending December 31, (All
USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS NikoJokic, Inc. Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Year 1 Year 2 Cash 38,200 32,880 Accounts receivable 61,120 41,100 Inventory 397,280 468,540 Total current assets 496,600 542,520 Gross fixed assets* 382,000 419,220 (Accumulated depreciation) (114,600) (139,740) Net fixed assets 267,400 279,480 Total assets 764,000 822,000 Notes payable 61,120 82,200 Accounts payable 137,520 156,180 Accruals 15,280 24,660 Total current liabilities 213,920 263,040 Long-term debt 106,960 57,540 Common stock 22,920 41,100 Capital surplus 229,200 254,820 Retained earnings 191,000 205,500 Total liabilities and equity 764,000 822,000 Additional Data from Company Income Statement(s): Sales in Year 2 Net income in Year 2 1,644,000 32,880 * No long-term assets were sold in either Year 1 or Year 2 26. What did NikoJokic, Inc. report as Net Cash Flow from Operating Activities for Year 2? 27. What did NikoJokic, Inc. report as Net Cash Flow from Investing Activities for Year 2? 28. What did NikoJokic, Inc. report as Net Cash Flow from Financing Activities for Year 2?
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