On Evergreen's Comparative Balance Sheet it list: Assets-

12/21/2012 12/31/2011
Cash $357,000 $312,000
Accts. Receivable 80,000 83,000
Inventory 213,000 199,000
Prepaid Expenses 25,000 21,000
Fixed Assets 463,000 419,000
Accum. Depreciation (213,000) (201,000)

Total Assets: 925,000 833,000

Liabilities and Stockholders' equity:
Accounts Payable 112,000 120,000
Salaries Payable 30,000 28,000
Bonds Payable 50,000 30,000
Common Stock 600,000 570,000
Retained Earnings 133,000 85,000

Total Liabilities: 925,000 833,000

Quote:

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Originally Posted by mjmannings

On Evergreen's Comparative Balance Sheet it list: Assets-

12/21/2012 12/31/2011
Cash $357,000 $312,000
Accts. Receivable 80,000 83,000
Inventory 213,000 199,000
Prepaid Expenses 25,000 21,000
Fixed Assets 463,000 419,000
Accum. Depreciation (213,000) (201,000)

Total Assets: 925,000 833,000

Liabilities and Stockholders' equity:
Accounts Payable 112,000 120,000
Salaries Payable 30,000 28,000
Bonds Payable 50,000 30,000
Common Stock 600,000 570,000
Retained Earnings 133,000 85,000

Total Liabilities: 925,000 833,000

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Quote:

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Originally Posted by mjmannings

On Evergreen's Comparative Balance Sheet it list: Assets-

12/21/2012 12/31/2011
Cash $357,000 $312,000
Accts. Receivable 80,000 83,000
Inventory 213,000 199,000
Prepaid Expenses 25,000 21,000
Fixed Assets 463,000 419,000
Accum. Depreciation (213,000) (201,000)

Total Assets: 925,000 833,000

Liabilities and Stockholders' equity:
Accounts Payable 112,000 120,000
Salaries Payable 30,000 28,000
Bonds Payable 50,000 30,000
Common Stock 600,000 570,000
Retained Earnings 133,000 85,000

Total Liabilities: 925,000 833,000

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Net Income = $133,000 - $85,000 (From Retained Earnings) 48,000
Depreciation 12,000
Decrease in Accounts Receivable 3,000
Increase in Inventory (14,000)
Increase in Prepaid Expenses (4,000)
Decrease in Accounts Payable (8,000)
Increase in Salaries Payable 2,000
Net Cash Provided by Operating Activities 39,000