Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the financial statements (first tab) and other information (second tab) for Nutsy Inc. to answer the following questions regarding the 2020 Statement of Cash
Use the financial statements (first tab) and other information (second tab) for Nutsy Inc. to answer the following questions regarding the 2020 Statement of Cash Flows. What is the Net Increase (Decrease) in Cash? 913,600 911,800 909,600 902,800 2020 4,500,000 2,800,000 1,700,000 2019 4,000,000 2,200,000 1,800,000 2018 3,000,000 1,500,000 1,500,000 Nutsy Inc. Statement of Net Income Revenue Cost of Good Sold Gross Profit Operating Expenses Salaries Rent Interest Expense Depreciation Amortization Loss/ (gain) on sale of equipment Total Operating Expenses Net Income Nutsy Inc. Balance Sheet Cash Accounts Receivable, net of bad debt allowance Inventory Pre-paid expenses Total Current Assets Property, Plant and Equipment, net of depreciation Intangible assets, net of amortization Total Non-current assets TOTAL ASSETS Current Liabilities 720,000 100,000 36,000 55,000 10,000 (8,000) 913,000 787,000 650,000 100,000 36,000 50,000 10,000 5,000 851,000 949,000 600,000 100,000 60,000 40,000 10,000 810,000 690,000 2020 3,103,400 850,000 570,000 75,000 4,598,400 2,610,000 100,000 2,710,000 7,308,400 2019 2,193,800 910,000 550,000 100,000 3,753,800 2,620,000 110,000 2,730,000 6,483,800 2018 2,300,000 800,000 500,000 120,000 3,720,000 2,380,000 120,000 2,500,000 6,220,000 440,000 30,000 157,400 627,400 400,000 50,000 189,800 639,800 300,000 25,000 100,000 425,000 Accounts Payable Wages Payable Income Taxes Payable Total Current Liabilities Non Current Liabilites Bonds Payable Total Non Current Liabilities Total Liabilities Shareholder's Equity Common Stock, $10 par value Additional Paid In Capital Retained Earnings Total Shareholders Equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 1,200,000 1,200,000 1,827,400 1,200,000 1,200,000 1,839,800 2,000,000 2,000,000 2,425,000 450,000 1,400,000 3,631,000 5,481,000 7,308,400 400,000 1,300,000 2,944,000 4,644,000 6,483,800 400,000 1,300,000 2,095,000 3,795,000 6,220,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started