Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Cash Accounts receivable nventory_ otal current assets Gross fixed assets* (Accumulated depreciation) Year 1 Year 2 32,800 196,800 311,600 541,200 1,279,200 (246.000 34,200 188,100 342,000 564,300 1,333,80 256 500)
Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Cash Accounts receivable nventory_ otal current assets Gross fixed assets* (Accumulated depreciation) Year 1 Year 2 32,800 196,800 311,600 541,200 1,279,200 (246.000 34,200 188,100 342,000 564,300 1,333,80 256 500)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Balance Sheets for the Years Ending December 31,
(All amounts are in dollars)
Cash
Accounts receivable
Inventory_
Total assets
16,400
Current portion of LT Debt
Year 1
Total current assets
Gross fixed assets*
(Accumulated depreciation)_____(246,000
Net fixed assets
Land
Notes payable 49,200
Accounts payable 147,600
Accruals
51,300
32,800
196,800
Total current liabilities
Long-term debt
Common stock 295,200
82,000
Total liabilities and equity
311,600
541,200
1,279,200
1,033,200
65,600
34,200
136,800
Year 2
114,800
328,000
360,800
34,200
188,100
342,000
564,300
1,333,800
256,500)
1,640,000 1,710,000
1,077,300
68,400
136,800
359,100
359,100
307,800 Paid in capital
598,500
1,710,000
85,500 Retained earnings 574,000
1,640,000
Additional Data from Company Income Statement(s);
Sales in Year 2
3,420,000
28,830
Net income in Year 2
* No long-term assets were sold in either Year 1 or Year 2
What did LebroJames, Inc. report as Net Cash Flow from Operating Activities for Year 2?
$74,630
What did Lebro.James, Inc. report as Net Cash Flow from Investing Activities for Year 2?
What did Lebro.James, Inc. report as Net Cash Flow from Financing Activities for Year 2?
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