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    Ibdolphinlvr's Avatar
    Ibdolphinlvr Posts: 1, Reputation: 1
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    #1

    Nov 2, 2013, 09:09 PM
    Formulating Financial Statements from Raw Data
    Following is selected financial information from Company A, for the year ended November 30, 2011 ($ Millions)
    Cash and cash equivalents $7,662.0
    Cash flows from operations $10,079.0
    Sales $43,218.0
    Stockholder's equity $47,259.0
    Cost of goods sold $16,682.0
    Cash flows from financing ($4,064.0)
    Total liabilities $39,836.0
    Other net expenses $20,046.0
    Noncash assets $79,433.0
    Cash flows from investing ($2,934.0)
    Net income $6,490.0
    Cash, beginning year $4,581.0


    Prepare an income statement, balance sheet and statement of cash flows for Company A.
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
    Senior Member
    		  
    #2

    Nov 2, 2013, 11:44 PM
    Financial statement identified with each item:

    Cash and cash equivalents $7,662.0 - Balance Sheet and Cash Flow Statement
    Cash flows from operations $10,079.0 - Cash Flow Statement
    Sales $43,218.0 - Income statement
    Stockholder's equity $47,259.0 - Balance Sheet
    Cost of goods sold $16,682.0 - Income Statement
    Cash flows from financing ($4,064.0) - Cash Flow Statement
    Total liabilities $39,836.0 - Balance Sheet
    Other net expenses $20,046.0 - Income Statement
    Noncash assets $79,433.0 - Balance Sheet
    Cash flows from investing ($2,934.0) - Cash Flow Statement
    Net income $6,490.0 - Income Statement*
    Cash, beginning year $4,581.0 - Cash Flow Statement

    * Stockholders' equity includes net income
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