At the close of 20X3, the financial statements of Northern Manufacturing were as follows. In addition, Northern
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In addition, Northern paid dividends of $1.2 million and sold new stock valued at $1.0 million in 20X3. Use the CASHFLO program to produce Northerns statement of cash flows for20X3.
Financial StatementsFinancial 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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Northern Manufacturing Balance Sheet For the period ended 12/31/x3 Northern Manufacturing Income Statement For the period ended 12/31/x3 $22,560 11,506 200 Gross margin $ 11,054 5,332 700 5,022 1,180 S 3,842 1,537 Net income 2,305 ASSETS Sales 231/X1 12/31/X2 COGS S 500 Cash Accounts receivable Inventory CURRENT ASSETS Fixed assets 6,250 7300 Expense 5,180 6,470 Depreciation $11,930 $13,970 EBIT Interest Gross Accumulated deprec. 2,400) 3, Net s 7,500 $ 9,000 EBT Tax S 5,100 5,900N TOTAL ASSETS $17030 $19,870 LIABILITIES 1,860 2,210 220 CURRENT LIABILITIES 2,710 S 2,430 $11,320 S12,335 3,000 5,105 S14,320 S 17,440 Accounts payable Accruals 850 Long-term debt Equity TOTAL CAPITAL TOTAL LIABILITIES AND EQUITY $17,030 $19,870
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