Balance Sheet and Income Statement and etc.

I. {TVeriint’rig with rm fricinirr .I’u”If.i’l”.i’!.i’£’H.E’ mid Ivrirrricc sbciv} Prepare :1 halattee sheet and income
statement for lielninncl, Inc. From the I-”allowing infnntiation.
Inventory S 5.500
Common stock 45.EI’EiiJ
Cash 1 E+,55D
Dperating expenses 1,350!
Sh ort-term notes pava ble ISEID
Interest expe nse EDD
Depreciation expe nse saa
Sales 12,300
Accounts receivable ‘:’i.tE-[ID
Accounts payable 4,301?
Lo rug-term debt ESJJDD
Cost of goods sold 5,15!)
Buildings and equipment 122,I‘.}i'.!fl
Accumulated depreciation 3-LDDD
Taxes 1_44Ei
General and administrative expe nses 350
Retained earnings
2, {Cwatpatfng cccnir flaws] Given the followittg infotmetiott, prepare a smtement of cash flovrs.
Dividends 5 35
increase in cont nton stock 2?
Increase in accou rits receivable E5
Increase in inventories 5
-Dperating income 21 5
Increase in accounts pavabies sifl
Interest expense 5-:1
De preciation expe nse Ed
Increase in bani: debt 43
Increase in accrued expenses 15
Increase in gross fixed assets 55
Income taxes 45
3. Ii.-*’:’:rar{]iei’rrg IT strrtcmivrt tfcrrs-i’.= flaws} Interpret the following inforntation regarding H”estla1-te
Corpor-ation’s cash flows.
Net income 5 fiflfl
Depreciation expense 125
Profits before depreciation ans
Increase in accounts receivable {E DD]
Increase in inventories {lee}
Increase in accounts payable 11D
Increase in accrued expenses E1
Cash fiovv from operations 5 5&6
Investment activity
Change in fixed assets ii H54]
Financing activitv
Increase in long-term debt 5 flea
Common stocl-t dividends _ifl’l
Total financing activities 5 520
Change in cash 5 22
Beginning cash Sim
Ending cash fij
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