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Using the following information, answer the questions that follow. XYZ COMPANIES Income and Expense Statement for the year ending December 3 1 , 2 0
Using the following information, answer the questions that follow.
XYZ COMPANIES
Income and Expense Statement
for the year ending December
Sales $
Cost of Goods Sold
Gross Profit
Salaries Expense
Depreciation and amortization expense
Insurance expense
Interest Expense
Loss from sale of patent
Gain from the sale of land
Total Expenses and others
Income Before Taxes
Tax Expense
NET INCOME
Partial information of the Comparative Statement of Financial Situation Balance Sheet
Excluding cash, all current asset and current debt accounts of the company are summarized here.
change
Accounts Receivable $ $ decrease $
Inventory increase
Prepaid insurance increase
Accounts Payable decrease
Salaries payable increase
Interest Payable
increase
Taxes Payable decrease
Other information:
During the year, the company sold land with a book value of $
During the year, the company sold a patent with a book value of $
During the year, the company acquired equipment for $ in cash.
During the year, the company issued common stock for $ acquired shares of stock for $ and paid dividends of $
Determine Net Cash from Financing Activities
Enter your answer WITHOUT using a dollar symbol. If the answer is negative, indicate the negative.
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