Summarized versions of Calabasa Corporation’s financial statements for two recent years are as follows.

Requirement

1. Complete Calabasa Corporation’s financial statements by determining the missing amounts denoted by the letters. If necessary, round numbers up to the nearest whole dollar.

Transcribed Image Text:

A1 2019 (in Thousands) k 2018 3 Income Statement Revenues Cost of goods sold Other expenses Income before income taxes $ 14,750 4 11,100 1,300 1,520 1,200 1,870 655 Income taxes (35%). 8 Net income 9. 10 Statement of Retained Earnings Beginning balance Net income Dividends declared Ending balance 2,680 11 12 13 in (92) (70) 14 15 Balance Sheet 16 Assets 17 18 Cash Property, plant, and equipment Other assets Total assets 1,547 1,316 11,104 $ 13,600 19 20 21 Liabilities Current liabilities Long-term debt Other liabilities Total liabilities 22 5,660 3,370 180 23 4,350 35 9,200 24 25 26 Stockholders' equity: Common stock Retained earnings Other stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity 27 425 425 28 29 140 4,390 180 30 31 32 Cash Flow Statement 33 34 35 36 V. Net cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Increase (decrease) in cash Cash at beginning of year Cash at end of year 875 (425) (520) (270) (520) (160) 37 1,250 38 39 %24 %24