vicky55
Feb 5, 2014, 08:52 PM
This is the information I have
Balance Sheet
End Beginning
Cash 2225 3227
Accounts receivable 83962 75165
Inventories 169978 114465
Prepaid expenses 13023 12402
Other assets 1190 1471
Notes payable 43500 19500
Accounts payable 54331 45023
Accrued salaries 8235 11687
Other accrued expenses 13039 12977
Income tax 4732 5352
Common shares 17453 16346
Income Statement
Net Sales 656987 624568
Cost of goods sold 543624 498790
Amortization 7805 6895
Selling and administrative 83,796 84,314
Interest 4136 2297
639361 592296
Earnings before income tax 17626 32272
Income taxes 7051 13071
Net earnings 10575 19201
Purchase of new property, plant and equipment 14790
Property, plant and equipment sold produced a gain of 1169
This is what I have done so far and I don't know what I'm doing wrong.
Operating Activities
Net earnings 10575
Amortization expense 7805
Accounts receivable (8797)
Inventory (55513)
Prepaid Rent (621)
Other assets 281
Accounts payable 9308
Accrued salaries 3452
Other accrued Expenses (62)
Income Taxes 620
Total Operating Activities (32952)
Investing Activities
Cash paid for purchase of new property (14790)
Cash received from sale 1169
Total Investing Activities (13621)
Financing Activities
Cash received from issuance of notes payable 24000
Cash received from issuance of shares 1107
Total finance activities 25107
Net change (21446)
Cash at the beginning 3227
Cash at the end??
Balance Sheet
End Beginning
Cash 2225 3227
Accounts receivable 83962 75165
Inventories 169978 114465
Prepaid expenses 13023 12402
Other assets 1190 1471
Notes payable 43500 19500
Accounts payable 54331 45023
Accrued salaries 8235 11687
Other accrued expenses 13039 12977
Income tax 4732 5352
Common shares 17453 16346
Income Statement
Net Sales 656987 624568
Cost of goods sold 543624 498790
Amortization 7805 6895
Selling and administrative 83,796 84,314
Interest 4136 2297
639361 592296
Earnings before income tax 17626 32272
Income taxes 7051 13071
Net earnings 10575 19201
Purchase of new property, plant and equipment 14790
Property, plant and equipment sold produced a gain of 1169
This is what I have done so far and I don't know what I'm doing wrong.
Operating Activities
Net earnings 10575
Amortization expense 7805
Accounts receivable (8797)
Inventory (55513)
Prepaid Rent (621)
Other assets 281
Accounts payable 9308
Accrued salaries 3452
Other accrued Expenses (62)
Income Taxes 620
Total Operating Activities (32952)
Investing Activities
Cash paid for purchase of new property (14790)
Cash received from sale 1169
Total Investing Activities (13621)
Financing Activities
Cash received from issuance of notes payable 24000
Cash received from issuance of shares 1107
Total finance activities 25107
Net change (21446)
Cash at the beginning 3227
Cash at the end??