A B C 32 D E F G H 33 Blythe Industries, Incorporated 34 Income Statement 35 For the Year Ended December 31, Year 3 36 Sales revenue 1,050,000 37 Cost of goods sold (766,500) 38 Gross profit 283,500 39 Operating expenses 40 Supplies expense 20,400 + 41 Salaries expense in un un 92,000 42 Depreciation expense 90,000 43 Total operating expenses $ (202,400) 44 Operating income 81,100 45 Nonoperating items 46 Interest expense (16,000) 47 Gain from the sale of marketable securities 30,000 48 Gain from the sale of land and equipment 12,000 49 Net income 107,100 50 51 Additional information 52 1. Sold land that cost $40,000 for $44,000. $ 40,000 $ 44,000 2. Sold equipment that cost $30,000 and had accumulated depreciation 53 of $20,000 for $18,000. 30,000 $ 20,000 $ 18,000 54 3. Purchased new equipment for $190,000. 190,000 4. Sold marketable securities that were classified as available-for-sale and that cost $40,000 for $70,000. $ 40,000 $ 70,000 55 5. Purchased new marketable securities, classified as available-for-sale, 56 for $104,000. 104,000 6. Paid $20,000 on the principal of the long-term note. 20,000 100,000 $ 200,000 58 7. Paid off a $100,000 bond issue and issued new bonds for $200,000. 100 59 8. Sold 100 shares of treasury stock at its cost.A B C D E 72 Blythe Industries Incorporated 73 Statement of Cash Flows 74 For the Year Ended December 31, Year 3 75 Cash flows from operating activities: 76 77 78 79 80 81 Cash flows from investing activities: 82 83 84 85 86 87 88 Cash flows from financing activities: 89 90 91 92 93 94 95 96 97 98 99 Ending cash balance 100 101 b. The cost per share of the treasury stock is 102 c. The issue price per share of the preferred stock wasI Blythe Industries Incorporated an A Cosirnows montroperating activities. D E F G 76 77 78 79 80 81 Cash flows from investing activities: 82 83 84 85 86 87 88 Cash flows from financing activities: 89 90 91 92 93 94 95 96 97 98 99 Ending cash balance 100 101 b. The cost per share of the treasury stock is 102 c. The issue price per share of the preferred stock was 103 d. The book value of the equipment sold was 104A B C D E F G Additional information 1. Sold land that cost $40,000 for $44,000. $ 40,000 $ 44,000 2. Sold equipment that cost $30,000 and had accumulated depreciation 3 of $20,000 for $18,000. S 30,000 $ 20,000 $ 18,000 4 3. Purchased new equipment for $190,000. 190,000 4. Sold marketable securities that were classified as available-for-sale 5 and that cost $40,000 for $70,000. $ 40,000 $ 70,000 + 5. Purchased new marketable securities, classified as available-for-sale, 6 for $104,000. 104,000 6. Paid $20,000 on the principal of the long-term note. 20,000 8 7. Paid off a $100,000 bond issue and issued new bonds for $200,000. 100,000 $ 200,000 9 8. Sold 100 shares of treasury stock at its cost. 100 9. Issued new common stock. 10. Issued some new $50 par preferred stock. S 50 11. Paid dividends. (Note: The only transactions to affect retained earnings were net income and dividends.) Required 5 a. Complete the statement of cash flows using the direct method. 6 b. What is the cost per share of the treasury stock? c. What was the issue price per share of the preferred stock? d. What was the book value of the equipment sold? Note: Negative amounts or amounts to be deducted should be input and displayed as negative values. All other answers should be input and displayed as positive values.B D E The following financial statements and information are available for Blythe Industries Incorporated. I w No Blythe Industries, Incorporated Balance Sheets As of December 31 Year 3 Year 2 D CO Assets Cash 160,200 S 120,600 10 Accounts receivable 103,200 85,000 11 Inventory 186,400 171,800 12 Marketable securities (available for sale) 284,000 220,000 13 Equipment 650,000 490,000 14 Accumulated depreciation (310,000) (240,000) 15 Land 80,000 120,000 16 Total assets S 1,153,800 $ 967,400 17 Liabilities and equity 8 Liabilities 19 Accounts payable (inventory) 36,400 66,200 20 Notes payable - Long-term 230,000 250,000 21 Bonds payable 200,000 S 100,000 22 Total liabilities S 466,400 $ 416,200 23 Stockholders' equity 24 Common stock, no par 240,000 200,000 25 Preferred stock, $50 par 110,000 100,000 26 Paid-in capital in excess of par - Preferred stock 34,400 26,800 384,400 326,800 27 Total paid-in capital 333,000 264,400 28 Retained earnings Less: Treasury stock (30,000) (40,000) 29 687,400 $ 551,200 30 Total stockholders' equity 967,400 31 Total liabilities and stockholders' equity 1,153,800 $ 32