Question: Please answer if you are sure your answer is correct. Please answer step by step with calculations.. thanks P1-68B (Learning Objective 4: Analyzing a company's
Please answer if you are sure your answer is correct. Please answer step by step with calculations.. thanks P1-68B (Learning Objective 4: Analyzing a company's financial statements) Summarized versions of Espinola Corporation's financial statements follow for two recent years 20x7 20x6 Income Statement (In Thousands) Ek 15,250 Cost of goods sold Other expenses 11,070 280 1,500 1,230 .- Income before income taxes.... Income taxes (35% tax rate Net income.... Statement of Changes in Equity , . ee3260 Beginning balance Shares bought back... Net income. (80) 0 Dividends Ending bal Balance Sheet Assets: 84(140) Cash. Property, plant and cquipment.. Other assets 2,100 10:404 13,419 Total assets Liabilities8 Current liabilities .. Notes payable and long-term debt ete 5,690 3,340 80 4,300 60 Total liabilities... Shareholders' Equity: Share capiral. E 460540 Retained earnings S 4,309 Total shareholders equity Total liabilities and shareholders' equity. Cash Flows Statement Net cash provided by operating activitiesee 850 (325) 490 Net cash used in investing activities... (240) Net cash used in financing activities(560) (90) Increase (decrease) in Cash at beginning of yea Cash at end of year.trrn 1.230 I Requirement 1. Complete Espinola Corporation's financial statements by determining the missing amounts denoted by the letters
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