Homework$)$

Help

Save & Exit

Submit

Following is a partially completed balance sheet for Epsico Incorporated at December $31,2022,$ together with comparative data for the year ended December $31,2021.$ From the statement of cash flows for the year ended December $31,2022,$ you determine the following $($amounts in thousands of dollars$)$:

Net income for the year ended December $31,2022,$ was $$312.$

Dividends paid during the year ended December $31,2022,$ were $$96.$

Cash increased $$96$ during the year ended December $31,2022.$

The cost of new equipment acquired during $2022$ was $$180$; no equipment was disposed of$.$

There were no transactions affecting the land account during $2022,$ but it is estimated that the fair market value of the land at December $31,2022,$ is $$480.$

Required:

Complete the balance sheet at December $31,2022.$

Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Enter your answers in thousands of dollars.

$\backslash$table$[[$EPSICO INCORPORATED$],[$Balance Sheets$],[$December $31,2022$ and $2021],[($Amounts in thousands$)],[$Assets$,2022,2021,$Liabilities and Stockholders' Equity,$2022,2021],[$Current assets,,,,Current liabilities,,,,$],[$Cash$,,$$$,360,$Note payable,$$,588,$$$,480],[$Accounts receivable,$1,512,,1,440,$Accounts payable,,$1,476,,1,320],[$Inventory$,2,892,,2,760,$Total current liabilities,$$,2,064,$$$,1,800],[$Total current assets,,$$,4,560,$Long$-$term debt,,,$$,960],[,,,$Total liabilities,,,$$,2,760],[$Land$,,$$$,300,$Stockholders' Equity,,,,$],[$Equipment$,,,4,500,$Common stock,$$,2,400,$$$,2,400],[$Less: Accumulated depreciation,$(2,160),,(1,920),$Retained earnings,,,,$2,280],[$Total land and equipment,,$$,2,880,$Total stockholders' equity,,,$$,4,680],[$Total assets,,$$,7,440,$Total liabilities and stockholders' equity,,,$$,7,440]]$

Prev

$5$ of $7$

Next