Accountspayable $ 31,500 Accountsreceivable 50,400 Capitalstock 262,500 Cash ? C
ID: 2457515 • Letter: A
Question
Accountspayable $ 31,500
Accountsreceivable 50,400
Capitalstock 262,500
Cash ?
Cash or operatingactivities 735,000
Cash receipts from operatingactivities 878,850
Cost ofsales 420,000
Dividends 26,250
Income taxexpense 147,000
Income taxespayable 21,000
Interestexpense 15,750
Inventories 94,500
Note payable (due in2015) 105,000
Property, plan, andequipment 396,900
Retained earnings ?
Sales 929,250
Selling and administrativeexpense 110,250
Explanation / Answer
Sales 929,250 -Cost of sales 420,000 Gross Margin 509,250 -selling exp 110,250 Int.exp 15,750 126,000 Income before taxes 383,250 -taxes 147,000 NetIncome 236,250 Please look in the question , retained earnings balance isgiven as 236,250. which now matches with net income.
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