LO5 P1-10B. Income Statement, Statement of Stockholders' Equity, Balance Sheet and Statement of Cash Flows Deans & Hale Corporation started business on January 1, 2019. The following information was compiled by Deans & Hale as of December 31, 2019. $25,000 17,000 Accounts payable. Notes payable.. Common stock Retained earnings Sales revenue. $ 4,000 Expenses 43,000 Dividends 3,000 1,500 2,500 20,000 Cash. ? Cash flow from operating activities. Cash flow from investing activities Cash flow from financing activities Accounts receivable 6,500 Inventory.. Equipment Building. 3,000 15,000 (55,000) 50,000 50,000 REQUIRED Prepare the company's year-end financial statements: an income statement, a statement of stock- holders' equity, a balance sheet, and a statement of cash flows.
LO5 P1-10B. Income Statement, Statement of Stockholders' Equity, Balance Sheet and Statement of Cash Flows Deans & Hale Corporation started business on January 1, 2019. The following information was compiled by Deans & Hale as of December 31, 2019. $25,000 17,000 Accounts payable. Notes payable.. Common stock Retained earnings Sales revenue. $ 4,000 Expenses 43,000 Dividends 3,000 1,500 2,500 20,000 Cash. ? Cash flow from operating activities. Cash flow from investing activities Cash flow from financing activities Accounts receivable 6,500 Inventory.. Equipment Building. 3,000 15,000 (55,000) 50,000 50,000 REQUIRED Prepare the company's year-end financial statements: an income statement, a statement of stock- holders' equity, a balance sheet, and a statement of cash flows.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:LO5
P1-10B. Income Statement, Statement of Stockholders' Equity, Balance Sheet and Statement of Cash
Flows Deans & Hale Corporation started business on January 1, 2019. The following information
was compiled by Deans & Hale as of December 31, 2019.
$ 4,000
Accounts payable..
Notes payable.
$25,000
17,000
3,000
1,500
2,500
Sales revenue.
Expenses
43,000
Dividends
Common stock.
20,000
Retained earnings
Cash flow from operating activities...
Cash flow from investing activities
Cash flow from financing activities.
Cash..
Accounts receivable
Inventory..
Equipment
Building.
6,500
(55,000)
50,000
3,000
15,000
50,000
REQUIRED
Prepare the company's year-end financial statements: an income statement, a statement of stock-
holders' equity, a balance sheet, and a statement of cash flows.
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