Answers
Calculation | Sequence | Calculation | Sequence | ||||
Income Statement | 2019 | 2018 | |||||
Revenues | $13,960 | (11,110+1260+1590) | 3rd | $16,275 | |||
Cost of goods sold | $11,110 | $13,175 | (16,275-1,220-1,880) | 2nd | |||
Other expenses | $1,260 | $1,220 | |||||
Income before income taxes | $1,590 | $1,880 | |||||
Income Tax(35%) | $557 | (1,590*35%) | 1st | $658 | |||
Net income | $1,033 | 2nd | $1,222 | (1880-658) | 1st | ||
Statement of Retained Earnings | |||||||
Beginning balance | $3,782 | from 2018 data | 4th | $2,660 | |||
Net Income | $1,033 | from income statement | 5th | $1,222 | from income statement | 3rd | |
Dividends | -$90 | -$100 | |||||
Ending balance | $4,725 | 6th | $3,782 | 4th | |||
Balance sheet | |||||||
Assets | |||||||
Cash | $1,100 | from cash flow statemetnt | 12th | $1,310 | (14,407-1,406-11,691) | 5th | |
Property, plant and equipment | $1,477 | $1,406 | |||||
Other assets | $11,883 | (14460-1100-1477) | 14th | $11,691 | |||
Total assets | $14,460 | liabilities and equity total | 13th | $14,407 | |||
Liabilities | |||||||
Current liabilities | $3,645 | (9250-4600-1005) | 7th | $5,650 | |||
Long term debt | $4,600 | $3,390 | |||||
Other liabilities | $1,005 | $1,150 | |||||
Total liabilities | $9,250 | $10,190 | 6th | ||||
Stockholders' equity | |||||||
Common stock | $275 | $275 | |||||
Retained earnigs | $4,725 | From statement of R.E. | 8th | $3,782 | (4217-275-160) | 7th | |
Other stockholders' equity | $210 | $160 | |||||
Total stockholders' equity | $5,210 | 9th | $4,217 | ||||
Total liabilities and Stockholders' equity | $14,460 | $14,407 | |||||
Cash flow Statement | |||||||
Net cash provided by Operating Activities | $580 | (540+250-210) | 10th | $1,025 | |||
Net Cash used in Investing Activities | -$250 | -$475 | |||||
Net Cash used in financing Activities | -$540 | -$460 | |||||
Increase/(decrease) in cash | -$210 | $90 | |||||
Cash at begin. Of year | $1,310 | $1,220 | |||||
cash at end of year | $1,100 | 11th | $1,310 |
Notes:
*Please follow the sequence of calculation for better understanding of the calculations.
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