Zachary Corporations December 31, 2008 balance sheet included the following amounts: Cash .................... $ 23,400 Retained earnings

Question:

Zachary Corporation’s December 31, 2008 balance sheet included the following amounts:

Cash .................... $ 23,400

Retained earnings ............... 107,600

Zachary’s accountant provided the following data for 2009:

Revenues ..................$ 673,900

Expenses .................. 582,100

Dividends ................. 34,200

Cash inflow from operating activities ....... 875,300

Cash outflow for investing activities ........ (994,500)

Cash inflow from financing activities ....... 156,600

Required:

Calculate the amount of cash and retained earnings at the end of 2009.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...