Use the following income statement and balance sheet information
to put together a statement of cash flows. (Enter
negative amounts using either a negative sign preceding the number
e.g. -45 or parentheses e.g. (45).)
- Use The Following Income Statement And Balance Sheet Information To Put Together A Statement Of Cash Flows Enter Negat 1 (62.01 KiB) Viewed 37 times
Use the following income statement and balance sheet information to put together a statement of cash flows. (Enter negative amounts using either a negative sign preceding the number eg. 45 or parentheses e.g. (45).) 2020 Sales $1,242,000 Cost of goods sold $687.000 Gross profit $555,000 Gen'l & admin expense $155.000 Selling & mkt expense $134.000 Depreciation $25,000 Operating income $241,000 Interest $142,000 Income before taxes $99,000 Income taxes (27%) $26,730 Net income $72.270 Dividends paid $25,000 Assets 2020 2019 Cash $9.130 $24,000 $124.000 Accounts receivable $112.000 Inventory $201.000 $220.000 Total current assets $349.000 $341,130 Gross plant and equipment $700,000 $475,000 $313,000 $288,000 Less: accum. depreciation : Net plant and equipment $387.000 $187.000 Total assets $736,000 $528,130 Liabilities Accounts payable $118,000 $103.000 Notes payable $28,000 $28.000 Total current liabilities $146,000 $131,000 Long-term debt - $245,000 $150,000 Total liabilities $391,000 $281,000 $4,500 $4.000 $224,500 $174.400 Common stock ($0.01 par) Paid-in capital Retained earnings Total stockholders' equity Total liabilities and equity $116,000 $68.730 $345,000 $247.130 $736,000 $528,130 Statement of Cash Flows 2020 Operating Activities V Net Income/Loss $ Depreciation