krug inc.

Project Description:

use the following financial statements and additional information to (1) prepare a statement of cash flows for the year ended december 31, 2012, using the indirect method, and (2) analyze and briefly discuss the statement prepared in part 1 with special attention to operating activities and to the company's cash level.

krug inc
comparitive balance sheet
december 31, 2012 and 2011

cash 2012: 26,400 2011: 30,550
accounts receivable net 2012: 14,050 2011:12,150
inventory 2012: 90,100 2011: 70,150
equipment 2012: 49,900 2011: 44,500
accum. depr - equipment 2012:-22,500 2011:18,300
total assets 2012:157,950 2011: 139,050

liabilities and equity
accounts payable 2012: 23,350 2011: 254,00
salaries payable 2012: 1,050 2011:600
common stock, no par value 2012: 107,000 2011: 100,000
retained earnings 2012: 26,550 2011: 13,050
total liabilities and equity 2012: 157,950 2011: 139,050

income statement
sales: 47,575
cost of goods sold: -17,950
gross profit: 29,625

operating expenses
depreciation expense:4,200
other expenses: 8,550
total operating expense: 12,750
income before taxes: 16,875
income tax expense: 3,375
net income: 13,500


additional information

a.) no dividends are declared or paid in 2012.

b.)issued additional stock for $7,000 cash in 2012.

c.) purchased additional equipment for cash in 2012; no equipment was sold in 2012
Skills Required:
Project Stats:

Price Type: Negotiable

Completed
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