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Whats in red is wrong, thanks! 2018 2017 Assets Current Assets Cash & Equivalents Short term investments Accounts receivable Inventories Other current assets Total current
Whats in red is wrong, thanks!
2018 2017 Assets Current Assets Cash & Equivalents Short term investments Accounts receivable Inventories Other current assets Total current assets Comparative Balance Sheets 2018 2017 Liabilities Current Liabilities 2,500 2,550 Accounts payable 1,834 2,400 Accruals and Other 5,672 4,966 Total current liabilities 2,700 2,675 Bonds Payable 1,001 941 Other long-term liabilities 13,707 13,532 Total Long-Term Liabilities Total liabilities 14,500 12,850 Owner's Equity 3,400 3,350 Common Stock & APIC 17,900 16,200 Retained Earnings Total owner's equity 31,607 29,732 Total Liabilities and Equity 7,680 2,390 10,070 3,800 1,656 5,456 15,526 7,770 3,800 11,570 3,650 1,606 5.256 16,826 Net Plant, property and equipment Other Long-term assets Total Long-term Assets 4,015 12,066 16,081 31,607 TRUE 3,975 8,931 12,906 29,732 TRUE Total Assets Income Statement: 2018 Revenue Cost of Goods Sold Gross Profit 9,646 4,175 1,675 15,496 Depreciation Selling & Admin. Expenses Other Expenses Operating Income Cash Flow From Assets: 52,050 Operating Cash Flow 20,950 Net Capital Spending 31,100 Change in Net Working Capital Cash Flow from Assets: 2,300 17,900 Cash Flow to Creditors: 250 Interest Expense: 10,650 Net New Borrowing Cash Flow to Creditors: 380 11,030 Cash Flow to Owners: Dividends 505 Net new owner contributions 10,525 Cash Flow to Owners: 505 (1,500) (995) Other Income EBIT Interest Expense Taxable income 3,706 1,875 5,581 Income Tax Expense (35% tax rate) Net Income 3,684 6,841 Total Cash Flow to Investors 20,082 FALSE Dividends paid during year: 3,706Step by Step Solution
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