Question: Need direct and indirect cashflow from the information provided. Please show work The following are comparative balance sheets and an income statement for Pizza Planet
Need direct and indirect cashflow from the information provided. Please show work
The following are comparative balance sheets and
an income statement for Pizza Planet Inc: (Amts in thousands)
| Assets | 2020 | 2019 |
| Cash | $600 | $375 |
| Accounts Receivable | 600 | 450 |
| Inventory | 900 | 525 |
| Land | 675 | 600 |
| Building | 900 | 900 |
| Accumulated Depreciation Bldg. | (300) | (270) |
| Equipment | 2,850 | 2,250 |
| Accumulated Depreciation - Equip | (525) | (480) |
| Patent | 1,200 | 1,500 |
| Totals | $6,900 | $5,850 |
| Liabilities and Equity |
|
|
| Accounts Payable
| $750
| $450
|
| Accrued Expenses Payable Note Payable-Long term | 300 150 | 225 0 |
| Common stock | 3,150 | 3,000 |
| Additional Paid in Capital | 750 | 675 |
| Retained Earnings | 1,800 | 1,500 |
|
|
|
|
| Totals | $6,900 | $5,850 |
|
|
|
|
| Sales | $2,645 |
|
| Cost of Goods sold | (600) |
|
|
|
|
|
| Operating Expenses | (425) |
|
| Interest Expense | (75) |
|
| Depreciation Exp - Bldg | (30) |
|
| Depreciation Exp Equip | (315) |
|
| Amortization of Patent | (300) |
|
| Loss on Sale of Equipment | (15) |
|
| Gain on sale of Land | 90 |
|
| Net Income | $975 |
|
During 2019, Pizza Planet sold a pizza oven (equipment) that originally cost $300 thousand and was 90% depreciated. Pizza Planet purchased a new delivery van (equipment) with cash. Pizza Plant acquired land by issuing the note payable. Pizza Planet issued Common stock for cash. Accounts payable relate to merchandise purchases.
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