Given is the Income Statement for the year ended December 31, 20XX, Statement of Retained Earnings...
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Given is the Income Statement for the year ended December 31, 20XX, Statement of Retained Earnings for the year ended December 31, 20XX and Comparative Balance Sheets for 20XW and 20XX of Maris Corporation: Sales Cost of goods sold Gross profits Selling and administrative expense Amortization expense Operating income Interest expense. Maris Corporation Income Statement Year Ended December 31, 20XX Earnings before taxes. Taxes Earnings after taxes. Preferred stock dividends Earnings available to common shareholders Shares outstanding Earnings per share Statement of Retained Earnings. For the Year Ended December 31, 20XX Retained earnings, balance, January 1, 20XX Add: Earnings available to common shareholders, 20XX Deduct: Cash dividends declared and paid in 20XX Retained earnings, balance, December 31, 20XX $5,000,000 3,150,000 1,850,000 660,000 320,000 870,000 55,000 815,000 420,000 395,000 20,000 $375,000 187,500 $2.00 $880,000 375,000 200,000 $1,055,000 Assets Current assets: Cash Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments (long-term securities) Plant and equipment Less: Accumulated depreciation Net plant and equipment Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Notes payable Accrued expenses Comparative Balance Sheets For 20XX and 20XW Total current liabilities Long-term liabilities: Bonds payable, 20XY Total liabilities Shareholders' equity: Preferred stock Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity December 31, 20XX 2,400,000 1,080,000 $120,000 470,000 600,000 19,000 1,209,000 100,000 1,320,000 $2,629,000 $238,000 500,000 46,000 784,000 170,000 954,000 120,000 500,000 1,055,000 1,675,000 $2,629,000 December 31, 20XW 1,800,000 760,000 $108,000 458,000 572,000 38,000 1,176,000 105,000 1,040,000 $2,321,000 $157,000 500,000 64,000 721,000 100,000 821,000 120,000 500,000 880,000 1,500,000 $2,321,000 Prepare a statement of cash flows for the Maris Corporation. (Amounts to be deducted should be indicated with a minus sign. Omit $ sign in your response.) Operating Activities: (Click to select) # Add items not requiring an outlay of cash: (Click to select) MARIS CORPORATION Statement of Cash Flows For the Year Ended December 31, 20XX Cash flow from operations (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) Investing activities: (Click to select) (Click to select) Net Change in non-cash working capital Cash (Click to select)) operating activities + + + Financing activities: (Click to select) (Click to select) (Click to select) Cash (Click to select) + Investing activities + 000 Cash (Click to select)) financing activities (Click to select) Cash, beginning of year Cash, end of year 0000 Given is the Income Statement for the year ended December 31, 20XX, Statement of Retained Earnings for the year ended December 31, 20XX and Comparative Balance Sheets for 20XW and 20XX of Maris Corporation: Sales Cost of goods sold Gross profits Selling and administrative expense Amortization expense Operating income Interest expense. Maris Corporation Income Statement Year Ended December 31, 20XX Earnings before taxes. Taxes Earnings after taxes. Preferred stock dividends Earnings available to common shareholders Shares outstanding Earnings per share Statement of Retained Earnings. For the Year Ended December 31, 20XX Retained earnings, balance, January 1, 20XX Add: Earnings available to common shareholders, 20XX Deduct: Cash dividends declared and paid in 20XX Retained earnings, balance, December 31, 20XX $5,000,000 3,150,000 1,850,000 660,000 320,000 870,000 55,000 815,000 420,000 395,000 20,000 $375,000 187,500 $2.00 $880,000 375,000 200,000 $1,055,000 Assets Current assets: Cash Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments (long-term securities) Plant and equipment Less: Accumulated depreciation Net plant and equipment Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Notes payable Accrued expenses Comparative Balance Sheets For 20XX and 20XW Total current liabilities Long-term liabilities: Bonds payable, 20XY Total liabilities Shareholders' equity: Preferred stock Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity December 31, 20XX 2,400,000 1,080,000 $120,000 470,000 600,000 19,000 1,209,000 100,000 1,320,000 $2,629,000 $238,000 500,000 46,000 784,000 170,000 954,000 120,000 500,000 1,055,000 1,675,000 $2,629,000 December 31, 20XW 1,800,000 760,000 $108,000 458,000 572,000 38,000 1,176,000 105,000 1,040,000 $2,321,000 $157,000 500,000 64,000 721,000 100,000 821,000 120,000 500,000 880,000 1,500,000 $2,321,000 Prepare a statement of cash flows for the Maris Corporation. (Amounts to be deducted should be indicated with a minus sign. Omit $ sign in your response.) Operating Activities: (Click to select) # Add items not requiring an outlay of cash: (Click to select) MARIS CORPORATION Statement of Cash Flows For the Year Ended December 31, 20XX Cash flow from operations (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) Investing activities: (Click to select) (Click to select) Net Change in non-cash working capital Cash (Click to select)) operating activities + + + Financing activities: (Click to select) (Click to select) (Click to select) Cash (Click to select) + Investing activities + 000 Cash (Click to select)) financing activities (Click to select) Cash, beginning of year Cash, end of year 0000
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Cash flow statement is given below Operating activities Net income 395000 Add items not requiring an ... View the full answer
Related Book For
Principles of Managerial Finance
ISBN: 978-0133507690
14th edition
Authors: Lawrence J. Gitman, Chad J. Zutter
Posted Date:
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