$4 30,000 From the balance sheet: 150,000 Cash ... 200,000 Accounts receivable . 500,000 Inventory Plant assets (net of accumulated depreciation) Current liabilities.... ... .. 150,000 300,000 Total stockholders' equity. 1,000,000 Total assets From the income statement: $1,500,000 Net sales 1,080,000 Cost of goods sold ... 315,000 Operating expenses .. 84,000 Interest expense... 6,000 Income tax expense 15,000 Net income .... From the statement of cash flows: Net cash provided by operating activities (including interest paid of $79,000) .. $ 40,000 Net cash used in investing activities (46,000) Financing activities: Amounts borrowed $ 50,000 ... .... Repayment of amounts borrowed... Dividends paid.. Net cash provided by financing activities ... Net increase in cash during the year (14,000) (20,000) 16,000 2. 10,000 ... ....
$4 30,000 From the balance sheet: 150,000 Cash ... 200,000 Accounts receivable . 500,000 Inventory Plant assets (net of accumulated depreciation) Current liabilities.... ... .. 150,000 300,000 Total stockholders' equity. 1,000,000 Total assets From the income statement: $1,500,000 Net sales 1,080,000 Cost of goods sold ... 315,000 Operating expenses .. 84,000 Interest expense... 6,000 Income tax expense 15,000 Net income .... From the statement of cash flows: Net cash provided by operating activities (including interest paid of $79,000) .. $ 40,000 Net cash used in investing activities (46,000) Financing activities: Amounts borrowed $ 50,000 ... .... Repayment of amounts borrowed... Dividends paid.. Net cash provided by financing activities ... Net increase in cash during the year (14,000) (20,000) 16,000 2. 10,000 ... ....
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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14.6A
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