Unformatted text preview: $ - payment of cash dividends $ (11,000) Net cash provided by financing activities $ 1,185,568 Summary Net change in cash $ (1,718) Cash at beginning of year 9,000 Cash at end of year $ 7,282 a. What effect did the expansion have on sales and net income? What effect did the expansion have on the asset side of the balance sheet? What effect did it have on liabilities and equity? Answer: Sales increased by over by over $2.4 million, but net income fell by over $190,000. Assets almost doubled. Debt and funds provided by suppliers increased, but retained earnings fell due to the year’s loss....
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- Spring '08
- Balance Sheet, Net Income, Generally Accepted Accounting Principles, Net Cash, $ 1,185,568