Question: Construct a source and use statement of XYZ company using the following information XYZ COMPANY BALANCE SHEET DECEMBER 31, 2006, 2007 Assets Liab + equity

Construct a source and use statement of XYZ company using the following information

XYZ COMPANY

BALANCE SHEET

DECEMBER 31, 2006, 2007

Assets Liab + equity

2006 2007 2006 2007

Cash 120 150 Acc. payable 200 150

Mkt. Sec 80 100 Notes payable 300 250

Acc. Rec 360 200 other liab. 100 150

Inventory 340 600

current assets 900 1050 Current liab. 600 550

Gross FA 2200 2400 Long term debt 1000 1200

Acc. Dep 500 600 Common stock 400 250

Net fixed asset 1700 1800 Retained earnings 600 850

Total assets 2600 2850 Total liab.+equity 2600 2850

The firms EAT for 2007 was 400

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