Enter the missing valuesin the following financial statements. Assume the company started operations January 1, 2013, and all transactions involve cash. (Amounts in parentheses do not require a minus sign in front of them.)
|
For the Years
|
|
2013 |
2014 |
2015 |
| Income Statements |
| Revenue |
$ |
430 |
|
$ |
530 |
|
$ |
830 |
|
| Expense |
|
(265 |
) |
|
( |
) |
|
(440 |
) |
|
|
|
|
|
|
|
|
|
|
| Net income |
$ |
|
|
$ |
115 |
|
$ |
390 |
|
|
|
|
|
|
|
|
|
|
|
| Statement of Changes in Stockholders' Equity |
| Beginning common stock |
$ |
0 |
|
$ |
|
|
$ |
9,700 |
|
| Plus: Common stock issued |
|
|
|
|
1,400 |
|
|
340 |
|
|
|
|
|
|
|
|
|
|
|
| Ending common stock |
$ |
8,300 |
|
$ |
9,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Beginning retained earnings |
|
0 |
|
|
31 |
|
|
81 |
|
| Plus: Net income |
|
|
|
|
115 |
|
|
390 |
|
| Less: Dividends |
|
( |
) |
|
(65 |
) |
|
(159 |
) |
|
|
|
|
|
|
|
|
|
|
| Ending retained earnings |
|
31 |
|
|
|
|
|
312 |
|
|
|
|
|
|
|
|
|
|
|
| Total stockholders' equity |
$ |
|
|
$ |
9,781 |
|
$ |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance Sheets |
| Assets |
| Cash |
$ |
|
|
$ |
|
|
$ |
|
|
| Land |
|
0 |
|
|
|
|
|
2,650 |
|
|
|
|
|
|
|
|
|
|
|
| Total assets |
$ |
12,000 |
|
$ |
12,650 |
|
$ |
11,500 |
|
|
|
|
|
|
|
|
|
|
|
| Liabilities |
$ |
|
|
$ |
|
|
$ |
1,148 |
|
|
|
|
|
|
|
|
|
|
|
| Stockholders' equity |
|
|
|
|
|
|
|
|
|
| Common stock |
$ |
|
|
$ |
|
|
$ |
10,040 |
|
| Retained earnings |
|
|
|
|
81 |
|
|
312 |
|
|
|
|
|
|
|
|
|
|
|
| Total stockholders' equity |
|
8,331 |
|
|
9,781 |
|
|
10,352 |
|
|
|
|
|
|
|
|
|
|
|
| Total liabilities and stockholders' equity |
$ |
12,000 |
|
$ |
12,650 |
|
$ |
11,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Statements of Cash Flows |
| Cash flows from operating activities |
|
|
|
|
|
|
|
|
| Cash receipts from customers |
$ |
|
|
$ |
530 |
|
$ |
|
|
| Cash payments for expenses |
|
( |
) |
|
(415 |
) |
|
( |
) |
|
|
|
|
|
|
|
|
|
|
| Net cash flows from operating activities |
|
165 |
|
|
115 |
|
|
390 |
|
|
|
|
|
|
|
|
|
|
|
| Cash flows from investing activities |
|
|
|
|
|
|
|
|
| Cash payments for land |
|
0 |
|
|
(5,300 |
) |
|
0 |
|
| Cash receipt from sale of land |
|
0 |
|
|
0 |
|
|
2,650 |
|
|
|
|
|
|
|
|
|
|
|
| Net cash flows from investing activities |
|
0 |
|
|
(5,300 |
) |
|
2,650 |
|
|
|
|
|
|
|
|
|
|
|
| Cash flows from financing activities |
|
|
|
|
|
|
|
|
| Cash receipts from borrowed funds |
|
3,669 |
|
|
0 |
|
|
0 |
|
| Cash payments to reduce debt |
|
0 |
|
|
(800 |
) |
|
( |
) |
| Cash receipts from stock issue |
|
8,300 |
|
|
1,400 |
|
|
|
|
| Cash payments for dividends |
|
(134 |
) |
|
(65 |
) |
|
( |
) |
|
|
|
|
|
|
|
|
|
|
| Net cash flows from financing activities |
|
11,835 |
|
|
535 |
|
|
(1,540 |
) |
|
|
|
|
|
|
|
|
|
|
| Net change in cash |
|
12,000 |
|
|
(4,650 |
) |
|
1,500 |
|
| Plus: Beginning cash balance |
|
0 |
|
|
12,000 |
|
|
7,350 |
|
|
|
|
|
|
|
|
|
|
|
| Ending cash balance |
$ |
12,000 |
|
$ |
7,350 |
|
$ |
8,850 |
|
|
|
|
|
|
|
|
|