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The following are the financial statements of Pina Colada Corp. Pina Colada Corp. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings 2020 $36,900 32.100 30,000 59,600 (29,600) $129,000 $28,200 7,100 26,700 17,500 49,500 2019 $19,500 18,600 20,300 78,000 (23,200) $113,200 $16.500 8.500 32,400 13.800 42.000

The following are the financial statements of Pina Colada Corp. Pina Colada Corp. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings 2020 $36,900 32.100 30,000 59,600 (29,600) $129,000 $28,200 7,100 26,700 17,500 49,500 2019 $19,500 18,600 20,300 78,000 (23,200) $113,200 $16.500 8.500 32,400 13.800 42.000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Used by Operating Activities Depreciation Expense Increase in Accounts Receivable : Increase in Inventory Increase in Accounts Payable Decrease in Income Taxes Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Net Cash Provided by Operating Activities Payment of Dividends Redemption of Bonds Show Transcribed Text Issuance of Common Stock Pina Colada Corp. Statement of Cash Flows For the Year Ended December 31, 2020 : Cash Flows from Financing Activities i : Net Increase in Cash Cash at Beginning of Period Cash at End of Period 0 # Net Increase in Cash Net Cash Used by Financing Activities Cash at Beginning of Period Cash at End of Period # (b) # ! Net Cash Used by Financing Activities 4 Free cash flow $ : Compute free cash flow. G 15000 : 13500 # -9700 11700 -20900 Show Transcribed Text 3700 3700 C $ $ 28-400 30500 9800 Show Transcribed Text 00500 22900 17400 36900 2100 -22900 17400 19500 36900
Transcribed Image Text:Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Used by Operating Activities Depreciation Expense Increase in Accounts Receivable : Increase in Inventory Increase in Accounts Payable Decrease in Income Taxes Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Net Cash Provided by Operating Activities Payment of Dividends Redemption of Bonds Show Transcribed Text Issuance of Common Stock Pina Colada Corp. Statement of Cash Flows For the Year Ended December 31, 2020 : Cash Flows from Financing Activities i : Net Increase in Cash Cash at Beginning of Period Cash at End of Period 0 # Net Increase in Cash Net Cash Used by Financing Activities Cash at Beginning of Period Cash at End of Period # (b) # ! Net Cash Used by Financing Activities 4 Free cash flow $ : Compute free cash flow. G 15000 : 13500 # -9700 11700 -20900 Show Transcribed Text 3700 3700 C $ $ 28-400 30500 9800 Show Transcribed Text 00500 22900 17400 36900 2100 -22900 17400 19500 36900
The following are the financial statements of Pina Colada Corp... Assets Cash Pina Colada Corp. Comparative Balance Sheets December 31 Accounts receivable Inventory Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total G Operating expenses Income from operations Interest Income before income taxes $36,900 $129,000 32,100 30,000 59,600 (29,600) $28,200 2020 Pina Colada Corp. Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit 49,500 $28,200 $241,300 64,900 26,700 17,500 176,400 24,500 7,100 Show Transcribed Text $129,000 40,400 3,800 36,600 7,100 26,700 17,500 49,500 2019 $19,500 18,600 20,300 78,000 (23,200) $113,200 $16.500 8,500 32,400 13,800 42,000 U $16.500 8,500 32,400 13.800 42,000 $113,200
Transcribed Image Text:The following are the financial statements of Pina Colada Corp... Assets Cash Pina Colada Corp. Comparative Balance Sheets December 31 Accounts receivable Inventory Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total G Operating expenses Income from operations Interest Income before income taxes $36,900 $129,000 32,100 30,000 59,600 (29,600) $28,200 2020 Pina Colada Corp. Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit 49,500 $28,200 $241,300 64,900 26,700 17,500 176,400 24,500 7,100 Show Transcribed Text $129,000 40,400 3,800 36,600 7,100 26,700 17,500 49,500 2019 $19,500 18,600 20,300 78,000 (23,200) $113,200 $16.500 8,500 32,400 13,800 42,000 U $16.500 8,500 32,400 13.800 42,000 $113,200
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