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Various items from the Perril Company's Income statement for the year ending December 31, 2005 are listed below: Interest expense = 37 Depreciation = 59
Various items from the Perril Company's Income statement for the year ending December 31, 2005 are listed below: Interest expense = 37 Depreciation = 59 Taxes = 32 Dividends paid = 15 Beginning inventory = 147 Gross sales = 946 Materials purchases = 522 Operating expenses (excluding depreciation) = 122 Returns and allowances = 67 Ending inventory = 246 Compute Net income (Record your answer without a dollar sign, without commas, without spaces and if your answer is negative, put a minus sign (i.e., -) before your answer with no spaces between the minus sign and the number). Your Answer: Random items from the Smyth Company Balance Sheet for December 31, 2005 are given below. Use these items to reconstruct the balance sheet and solve for the amount of CASH shown on the Smyth Balance Sheet. Long-term debt (excluding current portion) = 684 Current portion of long-term debt = 47 Net fixed assets = 784 Inventories = 246 Retained earnings = 222 Accruals = 150 Accumulated depreciation = 93 Common stock ($0.02 par value) = 388 Additional paid in capital = 85 Accounts receivable = 357 Notes payable = 205 Accounts payable = 163 CASH =
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