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Using the following financial statements for XYZ Corp., how cash did XYZ pay to suppliers for inventory during 2014? Using the following financial statements for

Using the following financial statements for XYZ Corp., how cash did XYZ pay to suppliers for inventory during 2014?

Using the following financial statements for XYZ Corp., how much in dividends did XYZ pay during 2014? (Hint: this question requires a calculation)

Using the following financial statements for XYZ Corp., how much in current assets did XYZ report in its December 2014 balance sheet?

Income Statement-2014

Revenues 82,000

Cost of Goods Sold -35000

SG&A Expenses -15,500

Depreciation -6000

Interest Expense -2500

Income Tax Expense -5000

Net Income 18,000

Balance Sheets 2014 and 2013

Dec 2014 Dec 2013

Cash 62,000 56,000

Accounts Receivable 25,000 28,000

Inventory 28,000 20,000

Land 120,000 120,000

Building, net 80,000 86,000

Total Assets 315,000 310,000

Accounts Payable 32,000 34,000

Bonds Payable 50,000 50,000

Common Stock 170,000 170,000

Retained Earnings 63,000 56,000

Total Liabilities and Equity 315,000 310,000

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