Summarized versions of Espinola Corporations financial statements follow for two recent years. Requirement 1. Complete Espinola Corporations
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Requirement
1. Complete Espinola Corporations financial statements by determining the missing amounts denoted by theletters.
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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2011 2010 Income Statement (In Thousands) $ k $15,250 Cost of goods sold. Other expense Income before income taxes Income taxes (35% tax rate) Net i 11,070 1,280 1,500 0 1.230 1,830 641 Statement of Retained Earning Beginning balance $n 2,720 0 Dividends Ending balance Balance Sheet Assets: (84) (140) 4 2,100 Property, plant, and equipment Other ass 1,750 10,404 $13,419 Total assets Liabilities: Current liabilities Notes payable and long-term deb. Other liabilities 4,300 60 $ 9,250 S 5,690 3,340 80 Total liabilities Stockholders' Equity: Common stock Retained earnings Other stockholders' equity $ 350 110 w 350 190 4,309 Total stockholders' equity Total liabilities and stockholders' equity Cash Flows Statement Net cash provided by operating activitie....... (240) 560) (90) S 850 (325) 490) Net cash used in investing activiti Net cash used in financing activities Increase (decrease) in cash Cash at beginning of year 1,230 Cash at end of year
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2011 2010 INCOME STATEMENT Revenues 13830 k 15250 Cost of goods sold 11070 a 12190 Other expenses 12...View the full answer
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Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
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