SPREAD1 - Long Term Debt $83 $77 $6 Common Stock 271 258 13...

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ABC Company Income Statement Sec. Time:TTh 4pm For the Year 200Y Sales Revenue $284 Miscellaneous Revenue 21 Total Revenues $305 Less:Cost of Goods Sold 150 Gross Margin $155 Less operating Expenses: Salary and wage expense $56 Depreciation expense 18 Other operating expenses 17 Interest expense 16 Income tax expense 15 Total expenses $122 Net Income $33 ABC Company Comparative Balance Sheets As of December 31, 200X and 200Y 200Y 200X Change Current Assets Cash $37 $42 -$5 A/R 95 80 15 Interest Receivable 4 1 3 Inventory 213 138 75 Prepaid Expenses 3 7 -4 Total Current Assets $352 $268 $84 Long Term Assets Long-Term Receivable $11 $0 $11 PP&E (net of accumulated depreciation) 201 219 -18 Total Long Term Assets $212 $219 -$7 Total Assets $564 $487 $77 Current Liabilities A/P $85 $57 $28 Salary and Wages Payable 5 6 -1 Accrued Liabilities 1 3 -2 Total Current Liabilities $91 $66 $25 Long Term Liabilities
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Unformatted text preview: Long Term Debt $83 $77 $6 Common Stock 271 258 13 Retained Earnings 119 86 33 Total Liabilities & Equities $564 $487 $77 ABC Company Statement of Cash Flows For Year 200Y Cash flows from operating activities Net Income $33 Adjustments to reconcile net income to net cash provided by operating activities Increase in accounts receivable-$15 Increase in inventories-$75 Increase in accounts payable $28 Decrease in prepaid expenses $4-$58 Net cash provided by operating activities-$25 Cash flows from investing activities Increase in interest receivable-3 Net cash used by investing activities-3 Cash flows from financing activities Issuance of common stock 13 Net cash provided by financing activities 13...
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