NEXTWWAVE INC. BALANCE SHEET December 31, 2023 Asset Cash $54,000 Account receivanle 68,000 Inventories 54,000 Prepaid...

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NEXTWWAVE INC. BALANCE SHEET December 31, 2023 Asset Cash $54,000 Account receivanle 68,000 Inventories 54,000 Prepaid expense 4,000 Land 45,000 Buldings 200,000 Accumulated Depre. Building (21,000) Equipment 193,000 Accumulated Depre. Equipment (28,000) Total asset 569,000 NEXTWWAVE INC. BALANCE SHEET December 31, 2022 Asset Cash $37,000 Account receivanle 26,000 Inventories 0 Prepaid expense 6,000 Land 70,000 Buldings 200,000 Accumulated Depre. Building (11,000) Equipment 68,000 Accumulated Depre. Equipment (10,000) Total asset 386,000 Liabilities and shareholder quity Account payable 23,000 Accrued Expense Payable 10,000 Bonds payable 110,000 Common stock 220,000 Retained earning 206,000 Total Liabiites and shareholder equity 569,000 Liabilities and shareholder quity Account payable 40,000 Accrued Expense Payable 0 Bonds payable 150,000 Common stock 60,000 Retained earning 136,000 Total Liabiites and shareholder equity 386,000 NEXTWAVE INC. INCOME STATEMENT For the year ended December 31, 2023 Revenue $890,000 $465,000 Cost of good sold 221,000 Operating expense 12,000 Interest expense 2,000 700,000 Loss on sale of equipment 190,000 Operating income 65,000 Income tax Net Income $125,000 Additional information 1. Long term expense included depreciation expense of $33,000 2. Land was sold for its book value in cash. 3. Equipment with original cost of $41,000 and a book value of $36,000 was sold for $34,000 4. Bonds of 10,000 were paid off in cash. Bonds of $30,000 were converted into Common Stock 5. New shares of common stock of $130,000 were issued for cash PREPARE A CASHFLOW STATEMENT from the year end of Dec 31, 2023. Managerial accounting NEXTWWAVE INC. BALANCE SHEET December 31, 2023 Asset Cash $54,000 Account receivanle 68,000 Inventories 54,000 Prepaid expense 4,000 Land 45,000 Buldings 200,000 Accumulated Depre. Building (21,000) Equipment 193,000 Accumulated Depre. Equipment (28,000) Total asset 569,000 NEXTWWAVE INC. BALANCE SHEET December 31, 2022 Asset Cash $37,000 Account receivanle 26,000 Inventories 0 Prepaid expense 6,000 Land 70,000 Buldings 200,000 Accumulated Depre. Building (11,000) Equipment 68,000 Accumulated Depre. Equipment (10,000) Total asset 386,000 Liabilities and shareholder quity Account payable 23,000 Accrued Expense Payable 10,000 Bonds payable 110,000 Common stock 220,000 Retained earning 206,000 Total Liabiites and shareholder equity 569,000 Liabilities and shareholder quity Account payable 40,000 Accrued Expense Payable 0 Bonds payable 150,000 Common stock 60,000 Retained earning 136,000 Total Liabiites and shareholder equity 386,000 NEXTWAVE INC. INCOME STATEMENT For the year ended December 31, 2023 Revenue $890,000 $465,000 Cost of good sold 221,000 Operating expense 12,000 Interest expense 2,000 700,000 Loss on sale of equipment 190,000 Operating income 65,000 Income tax Net Income $125,000 Additional information 1. Long term expense included depreciation expense of $33,000 2. Land was sold for its book value in cash. 3. Equipment with original cost of $41,000 and a book value of $36,000 was sold for $34,000 4. Bonds of 10,000 were paid off in cash. Bonds of $30,000 were converted into Common Stock 5. New shares of common stock of $130,000 were issued for cash PREPARE A CASHFLOW STATEMENT from the year end of Dec 31, 2023. Managerial accounting