The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Wright Company

[answerhappygod]

The Comparative Balance Sheets For 2021 And 2020 And The Statement Of Income For 2021 Are Given Below For Wright Company 1 (30.13 KiB) Viewed 40 times

The Comparative Balance Sheets For 2021 And 2020 And The Statement Of Income For 2021 Are Given Below For Wright Company 2 (42.05 KiB) Viewed 40 times

The Comparative Balance Sheets For 2021 And 2020 And The Statement Of Income For 2021 Are Given Below For Wright Company 3 (83.21 KiB) Viewed 40 times

The Comparative Balance Sheets For 2021 And 2020 And The Statement Of Income For 2021 Are Given Below For Wright Company 4 (62.36 KiB) Viewed 40 times

The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Wright Company Additional information from Wright's accounting records is provided also. RIGHT COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 Assets Cash Accounts receivable Short-term investment Inventory Land Buildings and equipment Less: Accumulated depreciation $ 116 $ 136 47 137 102 695 (193) $1,040 95 140 14 135 125 530 (140) 899 $ $ Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable Shareholders. Equity Con stock Paid in capital excess of par Retained earnings 40 2 8 5 0 296 48 6 5 10 33 230 390 182 112 $1,000 165 72 $399 WRIGHT COMPANY Income Statement For Year Ended December 31, 2021 that
WRIGHT COMPANY Income Statement For Year Ended December 31, 2021 ($ in thousands) Revenues i Sales revenue $ 580 Expenses: Cost of goods sold $ 260 Salaries expense 59 Depreciation expense 53 Interest expense 16 Loss on sale of land S Income tax expense 87 480 Net income $ 100 Additional Information from the accounting records a. Land that originally cost $23,000 was sold for $18,000. b. The common stock of Microsoft Corporation was purchased for $33,000 as a short term investment not classified as a cash equivalent c. New equipment was purchased for $165,000 cash d. A $33,000 note was paid at maturity on January 1 e On January 1, 2021. bonds were sold at their $66,000 face value. Common stock ($60,000 pat) was sold for $82,000. 9. Net income was $100,000 and cash dividends of $60,000 were paid to shareholders. Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000 should be entered as 10).) WRIGHT COMPANY
WRIGHT COMPANY Statement of Cash Flows For the year ended December 31, 2021 (s in thousands) Cash flows from operating activities Cash inflows: Cash outflows ht Net cash flows from operating activities Cash flows from investing activities Net cash flows from investing activities Cash flows from financing activities
Net cash flows from operating activities. Cash flows from investing activities: Net cash flows from investing activities Cash flows from financing activities Net cash flows from financing activities Net increase (decrease) in cash Cash balance, January 1 Cash balance, December 31