1st Balance sheet is for Christian Corp.

2nd balance sheet is a company Christian Corp. acquired 100% of for Cash.

What will be the net of the cash flow statement, specifically the operations section for Christian Corp. in 2019?

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Balance Sheet on: Dec 31, 2019 | Dec 31, 2018 | Increase Cash: 120,200 | 70,000 | 50,200 Accounts receivable: 120,100 | 90,000 | 30,100 Inventories: 160,100 | 140,000 | 20,100 Property and Equipment, Cost: 190,400 | 150,000 | 40,400 Accumulated Depreciation: (46,000)| (16,000) | (30,000) Goodwill: 67,000 | 12,000 | 55,000 Investments: 113,400 | 68,000 | 45,400 Total assets: 725,200 514,000| 211,200 Accounts payable: 160,400 | 146,000 | 14,400 Short term borrowings: 70,800 | 76,000 | (5,200) Notes payable, Long-term: 60,000 | 4,000 | 56,000 Capital Surplus (no Par): 322,000 | 258,000 | 64,000 Retained earnings: 112,000 | 30,000 | 82,000 Total Liabilities and Equity: 725,200 | 514,000 | 211,200 had acquired 100% of for cash on Dec 28, 2019. Christian Corp. acquired no other companies during the year. Yilmaz Inc. Balance Sheet on Dec 28, 2019 is as follows: Cash: 10,000 Accounts receivable: 22,000 Inventories: 31,000 Property and Equipment (Net): 27,000 0- Accounts payable: 16,000 Stockholders Equity: 74,000 Cash dividends of $21200 were charged to retained earnings and paid during the year. The transfer of net income to retained earnings was the only other entry in the Retained Earnings account. No Property and Equipment was sold during 2019. Net income for the year was $103200. Balance Sheet on: Dec 31, 2019 | Dec 31, 2018 | Increase Cash: 120,200 | 70,000 | 50,200 Accounts receivable: 120,100 | 90,000 | 30,100 Inventories: 160,100 | 140,000 | 20,100 Property and Equipment, Cost: 190,400 | 150,000 | 40,400 Accumulated Depreciation: (46,000)| (16,000) | (30,000) Goodwill: 67,000 | 12,000 | 55,000 Investments: 113,400 | 68,000 | 45,400 Total assets: 725,200 514,000| 211,200 Accounts payable: 160,400 | 146,000 | 14,400 Short term borrowings: 70,800 | 76,000 | (5,200) Notes payable, Long-term: 60,000 | 4,000 | 56,000 Capital Surplus (no Par): 322,000 | 258,000 | 64,000 Retained earnings: 112,000 | 30,000 | 82,000 Total Liabilities and Equity: 725,200 | 514,000 | 211,200 had acquired 100% of for cash on Dec 28, 2019. Christian Corp. acquired no other companies during the year. Yilmaz Inc. Balance Sheet on Dec 28, 2019 is as follows: Cash: 10,000 Accounts receivable: 22,000 Inventories: 31,000 Property and Equipment (Net): 27,000 0- Accounts payable: 16,000 Stockholders Equity: 74,000 Cash dividends of $21200 were charged to retained earnings and paid during the year. The transfer of net income to retained earnings was the only other entry in the Retained Earnings account. No Property and Equipment was sold during 2019. Net income for the year was $103200.

Answer rating: 100% (QA)

Cash flow statement is given for standalone and consolidated basis also Christian Corp Statement o... View the full answer