Partial Income Statement Year Ending 2017 Sales revenue $350,000 Cost of goods sold $141,900 Fixed costs $43,000 Selling, general, and administrative expenses Depreciation Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 LIABILITIES $16,200 Notes payable $28,000 Accounts payable $48,000 Long-term debt $367,800 OWNERS' EQUITY $143,500 Retained earnings $82,100 Common stock ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets $27,900 $45,800 ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 LIABILITIES $25,900 Notes payable $19,100 Accounts payable $53,000 Long-term debt $448,200 OWNERS' EQUITY Retained earnings $82,100 Common stock $13,900 $19,000 $190,000 $132,000 $12,100 $23,900 $162,100 $181,900
Partial Income Statement Year Ending 2017 Sales revenue $350,000 Cost of goods sold $141,900 Fixed costs $43,000 Selling, general, and administrative expenses Depreciation Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 LIABILITIES $16,200 Notes payable $28,000 Accounts payable $48,000 Long-term debt $367,800 OWNERS' EQUITY $143,500 Retained earnings $82,100 Common stock ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets $27,900 $45,800 ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 LIABILITIES $25,900 Notes payable $19,100 Accounts payable $53,000 Long-term debt $448,200 OWNERS' EQUITY Retained earnings $82,100 Common stock $13,900 $19,000 $190,000 $132,000 $12,100 $23,900 $162,100 $181,900
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Partial Income Statement Year Ending 2017
Sales revenue
$350,000
Cost of goods sold
$141,900
Fixed costs
$43,000
Selling, general, and
administrative expenses
Depreciation
Click on the following icon in order to copy its contents into a spreadsheet.)
Partial Balance Sheet 12/31/2016
LIABILITIES
$16,200 Notes payable
$28,000 Accounts payable
$48,000 Long-term debt
ASSETS
Cash
Accounts receivable
Inventories
Fixed assets
Accumulated depreciation
Intangible assets
$27,900
$45,800
ASSETS
Cash
Accounts receivable
Inventories
Fixed assets
Accumulated depreciation
Intangible assets
$367,800 OWNERS' EQUITY
$143,500 Retained earnings
$82,100 Common stock
Click on the following icon in order to copy its contents into a spreadsheet.)
Partial Balance Sheet 12/31/2017
LIABILITIES
$25,900 Notes payable
$19,100 Accounts payable
$53,000 Long-term debt
$448,200 OWNERS' EQUITY
Retained earnings
$82,100 Common stock
$13,900
$19,000
$190,000
$132,000
$12,100
$23,900
$162,100
$181,900

Transcribed Image Text:Cash flow identity. Use the data from the following financial statements in the popup window,. The company paid
interest expense of $17,100 for 2017 and had an overall tax rate of 40% for 2017. Verify the cash flow identity:
cash flow from assets = cash flow to creditors + cash flow to owners
The cash flow from assets is $
(Round to the nearest dollar.)
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