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Prepare a statement of cash flows from the following information. Balance sheet Cash Accounts receivable Inventory Prepaid expenses Total current assets Gross fixed assets Accumulated depreciation Total assets Accounts payable Accrued liabilities Total current liabilities Mortgage debt payable Preferred stock Common stock Retained earnings Total 2014 $89,000.00 $64,000.00 $112,000.00 $100,000.00 $10,000.00 $10,000.00 $275,000.00 $280,000.00 $238,000.00 $311,000.00 $40,000.00 $66,000.00 $473,000.00 $525,000.00 $85,000.00 $68,000.00 $153,000.00 $70,000.00 $0.00 2015 $205,000.00 $45,000.00 $473,000.00 $100,000.00 $70,000.00 $90,000.00 $63,000.00 $153,000.00 $0.00 $120,000.00 $205,000.00 $47,000.00 $525,000.00

Prepare a statement of cash flows from the following information. Balance sheet Cash Accounts receivable Inventory Prepaid expenses Total current assets Gross fixed assets Accumulated depreciation Total assets Accounts payable Accrued liabilities Total current liabilities Mortgage debt payable Preferred stock Common stock Retained earnings Total 2014 $89,000.00 $64,000.00 $112,000.00 $100,000.00 $10,000.00 $10,000.00 $275,000.00 $280,000.00 $238,000.00 $311,000.00 $40,000.00 $66,000.00 $473,000.00 $525,000.00 $85,000.00 $68,000.00 $153,000.00 $70,000.00 $0.00 2015 $205,000.00 $45,000.00 $473,000.00 $100,000.00 $70,000.00 $90,000.00 $63,000.00 $153,000.00 $0.00 $120,000.00 $205,000.00 $47,000.00 $525,000.00

FINANCIAL ACCOUNTING
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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Cash flow

Prepare a statement of cash flows from the following information. Balance sheet Cash Accounts receivable Inventory Prepaid expenses Total current assets Gross fixed assets Accumulated depreciation Total assets Accounts payable Accrued liabilities Total current liabilities Mortgage debt payable Preferred stock Common stock Retained earnings Total 2014 $89,000.00 $100,000.00 $64,000.00 $70,000.00 $112,000.00 $100,000.00 $10,000.00 $10,000.00 $275,000.00 $280,000.00 $238,000.00 $311,000.00 $40,000.00 $66,000.00 $473,000.00 $525,000.00 2015 $85,000.00 $68,000.00 $153,000.00 $70,000.00 $0.00 $205,000.00 $45,000.00 $473,000.00 $90,000.00 $63,000.00 $153,000.00 $0.00 $120,000.00 $205,000.00 $47,000.00 $525,000.00
Transcribed Image Text:Prepare a statement of cash flows from the following information. Balance sheet Cash Accounts receivable Inventory Prepaid expenses Total current assets Gross fixed assets Accumulated depreciation Total assets Accounts payable Accrued liabilities Total current liabilities Mortgage debt payable Preferred stock Common stock Retained earnings Total 2014 $89,000.00 $100,000.00 $64,000.00 $70,000.00 $112,000.00 $100,000.00 $10,000.00 $10,000.00 $275,000.00 $280,000.00 $238,000.00 $311,000.00 $40,000.00 $66,000.00 $473,000.00 $525,000.00 2015 $85,000.00 $68,000.00 $153,000.00 $70,000.00 $0.00 $205,000.00 $45,000.00 $473,000.00 $90,000.00 $63,000.00 $153,000.00 $0.00 $120,000.00 $205,000.00 $47,000.00 $525,000.00
Retained earnings Total Income statement Sales Cost of goods sold Gross profit Selling, G&A expenses Depreciation expense Operating income Interest expense Pre-tax income Taxes Net income Preferred dividends Net income to common $45,000.00 $473,000.00 $47,000.00 $525,000.00 $184,000.00 $60,000.00 $124,000.00 $44,000.00 $26,000.00 $54,000.00 $4,000.00 $50,000.00 $16,000.00 $34,000.00 $10,000.00 $24,000.00 Other information: Common dividends Only entry in accumulated depreciation is for 2015 depreciation expense. $22,000.00
Transcribed Image Text:Retained earnings Total Income statement Sales Cost of goods sold Gross profit Selling, G&A expenses Depreciation expense Operating income Interest expense Pre-tax income Taxes Net income Preferred dividends Net income to common $45,000.00 $473,000.00 $47,000.00 $525,000.00 $184,000.00 $60,000.00 $124,000.00 $44,000.00 $26,000.00 $54,000.00 $4,000.00 $50,000.00 $16,000.00 $34,000.00 $10,000.00 $24,000.00 Other information: Common dividends Only entry in accumulated depreciation is for 2015 depreciation expense. $22,000.00
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