Comparative balance sheet
|
Ending |
Beginning |
| assets |
Balance |
Balance |
| cash and cash equivalents |
31 |
29 |
| accounts receivable |
61 |
73 |
| inventory |
59 |
61 |
| property, plant and equipment |
684 |
550 |
| less accumulated depreciation |
-349 |
-319 |
| total assets |
486 |
394 |
|
|
|
| liabilities and stockholder's equity |
|
|
| accounts payable |
53 |
54 |
| accrued liabilities |
20 |
21 |
| income taxes payable |
52 |
48 |
| bonds payable |
203 |
190 |
| common stock |
61 |
60 |
| retained earnings |
97 |
21 |
| total liabilities and stockholder's equity |
486 |
394 |
| Income statement |
|
| sales |
807 |
| cost of goods sold |
492 |
| gross margin |
315 |
| selling and administrative expenses |
182 |
| net operating income |
133 |
| gain on sale of equipment |
16 |
| Income before taxes |
149 |
| income taxes |
45 |
| net income |
104 |
|
|
| sold equipment for |
18 |
| equipment originally purchased |
14 |
| accumulated depreciation |
12 |
| paid cash dividends |
28 |
1- Prepare a statement of cash flows for the year using the indirect method