Question: Can I get some help with this whole problem. Thanks Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December

Can I get some help with this whole problem. ThanksCan I get some help with this whole problem. Thanks Problem 12-9A

Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December 31 Assets 2014 2013 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $ 151,096 164,186 $ 90,508 71,060 210,375 53,108 192,330 48,620 258,060 203,830 532,950 453,475 (93,500 ) (97,240 ) $1,276,275 $962,583 $ 190,740 $ 125,851 30,855 39,270 205,700 411,400 437,580 $1,276,275 273,020 327,250 197,192 $962,583 ODGERS INC. Income Statement Data For the Year Ended December 31, 2014 Sales revenue $726,420 Less: Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets Net income $253,310 23,207 86,955 51,014 8,845 14,025 437,356 $ 289,064 Additional information: 1. New plant assets costing $187,000 were purchased for cash during the year. Old plant assets having an original cost of $107,525 and accumulated depreciation of 2. $90,695 were sold for $2,805 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $48,676 was declared and paid during the year. ODGERS INC. Statement of Cash Flows For the Year Ended December 31, 2014 $ Adjustments to reconcile net income to $ $ LINK TO TEXT

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!