Question: ) Johnson Tires Company uses the indirect method to prepare the statement of cash flows. Refer to the following comparative balance sheet for Johnson Tires

) Johnson Tires Company uses the indirect method to prepare the statement of cash flows. Refer to the following comparative balance sheet for Johnson Tires Company and complete the third column to show the increases or decreases.

Johnson Tires Company

Comparative Balance Sheet

December 31, 2017 and 2016

Increase/

2016 2015 (Decrease)

Cash $39,600 $19,800 19,800

Accounts Receivable 26,400 38,500

Merchandise Inventory 204,000 126,500

Total Assets 270,000 184,800

Accounts Payable 4,800 6,600

Accrued Liabilities 2,400 1,100

Long-term Notes Payable 100,800 99,000

Total Liabilities 108,000 106,700

Common Stock 36,000 2,200

Retained Earnings 135,600 81,400

Treasury Stock (9,600) (5,500)

Total Stockholders' Equity 162,000 78,100

Total Liabilities and Stockholders' Equity $270,000 $184,800

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2016 2015 increaseDecrease Cash 39600 19800 19800 Accounts Receivable 26400 38500 12100 Merchandise ... View full answer

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Question: ) Johnson Tires Company uses the indirect method to prepare the statement of cash flows. Refer to the following comparative balance sheet for Johnson Tires

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