Exercise 3. Financial Statements Forecasting Company ABC is a retailer. Below there is a balance sheet statement as of 1

[answerhappygod]

Exercise 3. Financial Statements
Forecasting
Company ABC is a retailer. Below there is a balance sheet
statement as of 1.01.2019. Additional information about the
company’s operations in 2019 is the following:
Required:
Prepare an income statement and cash flow statement for 2019 as
well as fill in balance sheet data at the end of 2019.
BALANCE SHEET, USD
INDICATOR
31.12.18
31.12.19
Calculations
Assets
PPE
4 000 000
Merchandise inventory
360 000
Accounts receivable
700 000
Short-term investments
480 000
Cash
95 000
Total assets:
5 635 000
Liabilities and equity
Common stock
1 400 000
Retained earnings
1 835 000
Long-term loans, incl.
2 000 000
interest payable
0
Accounts payable, incl.
400 000
suppliers
250 000
personnel
150 000
other, for ex., dividends
0
Total liabilities and equity
5 635 000