Chap 3 additional practice questions 1. Statement of Financial Position (SFP). Construct an SFP for Sophie's Sofas given the following data. What is shareholders' equity? Cash and cash equivalents Inventory of sofas $200,000 Store and property, net $100,000 Trade receivables = $22,000 Trade payables = $17,000 Long-term debt = $170,000 . $10,000 Posihlan f compRy C at he clate 2. Financial Statements. Earlier in the chapter, we characterized the sttement of financial position as providing a snapshot of the firm at one point in time and the statement of comprehensive income as providing a video. What did we mean by this? Is the statement of cash flows more like a snapshot or a video? 9. Statement of Changes in Equity. On the Brandex Inc. SFP as the year-end 2013 the share capital was $1,100,000, retained earnings uity was Chap 3 additional practice questions 1. Statement of Financial Position (SFP). Construct an SFP for Sophie's Sofas given the following data. What is shareholders' equity? Cash and cash equivalents = $10,000 Inventory of sofas $200,000 Store and property, net $100,000 Trade receivables $22,000 Trade payables $17,000 Long-term debt $170,000 positan Cofmnfng C a he clate 2. Financial Statements. Earlier in the chapter, we characterized the statement of financial position as providing a snapshot of the firm at one point in time and the statement of comprehensive income as providing a video. What did we mean by this? Is the statement of cash flows more like a snapshot or a video? 9. Statement of Changes in Equity. On the Brandex Inc. SFP as the year-end 2013 the share capital was $1,100,000, retained earnings were $3,000,000, accumulated other comprehensive income was $400,000, and total equity was $4,500,000, Year-end 2014 SFP retained earnings were $3,300,000. In 2014 net eanings were $900,000 and other comprehensive income was $0. There were no stock repurchases or stock issues during the year. What were dividends paid by the firm in 2014