Prepare a statement of cash flows for Abrahams Manufacturing Company for the year ended December 31, 2012.
Question:
Abrahams Manufacturing Company Income Statement for the Year Ended 12/ 31/ 2012
Additional Information 1. The only entry in the accumulated depreciation account is for 2012 depreciation. 2. The firm paid $ 22,000 in common stock dividends during 2012.
Transcribed Image Text:
Abrahams Manufacturing Company Balance Sheet for 12/31/2011 and 12/31/2012 Cash Accounts receivable Inventory Prepaid expenses Total current assets Gross plant and equipment Accumulated depreclaton 2391 8 40,000) ad Total assets Accounts payable Accrued liabilities 2011 89,000 64,000 112,000 10,000 275,000 238,000 2012 $100,000 70,000 100,000 10,000 280,000 311,000 Sa(66000) $473,000 $85,000 68,000 $525,000 90,000 63,000 Total current debt Mortgage payable Preferred stock Common stock Retained earnings Total debt and equity 153,000 70,000 0 205,000 45,000 473,000 153,000 120,000 205,000 47,000 $525,000 Sales Cost of goods sold Gross profit Selling, general, and adminístrative expenses Depreciation expense Operating income Interest expense Earnings before taxes Taxes Preferred stock dividends Earnings avalable to common shareholders 2012 $184,000 60,000 $124,000 44,000 26,000 54,000 4,000 50,000 16,000 10,000 s 24000
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Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
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