I have previously asked this question! The commas in the table do not line up on the answer provided. For example the net income is 805,000 you provided 8,05,000Also please explain how you got the purchase of marketable securities, sale of long term investments, purchase of property, dividends paid a what is debentures? Auto Zoom119As of Year-End($ thousands)20202019Liabilities & Shareholders' EquityAccounts payable$ 890,000$ 850,000Short-term bank debt190,000Total liabilities...1,080,000850,000Shareholders' equityCommon stock, $10 par valueAdditional paid-in-capital.Retained earnings...$ 775,000380,000870,000$ 675,000300,000415,000Total shareholders' equity2,025,0001,390,000Total liabilities & shareholders' equity$3,105,000$2,240,000LINCOLN CORPORATIONConsolidated Income StatementFor Year Ended($ thousands)20202019$1,448,000513,000$1,200,000420,000Revenues .Less: Cost of goods soldGross margin ...Less: Selling, general & administrative expenses935,000150,000780,000120,000Operating income..Gain on sale of investments.785,00070,000660,000Net income before taxes. .855,00050,000660,00011,000Less: Income taxes. .Net income after taxes$ 805,000$ 649,000The footnotes to the Lincoln Corporation's financial statements revealed the following additional information:1. Property and equipment costing $450 million was sold for its book value of $200 million.2. Long-term investments were sold for $150 million, which included a gain of $70 million.RequiredUsing the above financial data for the Lincoln Corporation, prepare the firm's statement of cash flow for2020 using the indirect method. What does the company's statement of cash flow reveal about the business'sfinancial health? PROBLEMSTA 1, 2Р3.22Statement of Cash Flow.Presented below are the financial statements for the Lincoln Corporation, as ofyear-end 2020 and 2019.omewoMBCLINCOLN CORPORATIONConsolidated Balance SheetsAs of Year-End($ thousands)20202019AssetsCurrentCash.2$23,000200,000590,000587,0002$90,000Marketable securitiesAccounts receivable (net) .Inventory..440,000615,000Total current assets1,400,0001,145,000NoncurrentLong-term investments310,000390,000Property & equipment..Less: Accumulated depreciation.1,800,000(500,000)1,100,000(500,000)Property & equipment (net).1,300,000600,000Intangibles (net)95,000105,000Total noncurrent assets1,705,0001,095,000Total assets$3,105,000$2,240,000continued

Statement of cash flow refers to the statement prepared as a part of a financial statement that…

I have previously asked this question! The commas in the table do not line up on the answer provided. For example the net income is 805,000 you provided 8,05,000 Also please explain how you got the purchase of marketable securities, sale of long term investments, purchase of property, dividends paid a what is debentures?

I have previously asked this question! The commas in the table do not line up on the answer provided. For example the net income is 805,000 you provided 8,05,000 Also please explain how you got the purchase of marketable securities, sale of long term investments, purchase of property, dividends paid a what is debentures?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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