Fin3330.docx - 4 Statement of Cash Flows Concept Check MKH...

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4. Statement of Cash FlowsConcept CheckMKH Company Comparative Balance SheetsUse the following comparative balance sheets and additional information to answer questions (1) through (4).MKH CompanyComparative Balance SheetsFor the year ended December 3120X120X0ChangeCurrent assetsCash$324,700$217,600$107,100Accounts receivable132,600165,200(32,600)Inventory175,100137,20037,900Prepaid rent25,50014,40011,100Total current assets$657,900$534,400$123,500Long-term assetsLand$326,400$345,600($19,200)Equipment (net)321,300356,300(35,000)Total long-term assets$647,700$701,900$(54,200)Total assets$1,305,600$1,236,300$69,300Current liabilitiesAccounts payable$145,800$131,200$14,600Salaries payable18,7004,80013,900
Interest payable32,30027,2005,100Total current liabilities$196,800$163,200$33,600Long-term liabilitiesBonds payable$321,400$469,800($148,400)Stockholders' equityCommon stock$535,800$434,900$100,900Retained earnings251,600168,40083,200Total liabilities and equity

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