Question: Question 2 (20 points) Consider the Sources and Uses for Gatorville, Inc. The firm distributed $25M in common stock dividends in 2019 Determine whether changes

 Question 2 (20 points) Consider the Sources and Uses for Gatorville,
Inc. The firm distributed $25M in common stock dividends in 2019 Determine
whether changes in the following accounts should be classified as Source or
Use 1. Cash 2. Accumulated Depreciation 3. Notes Payable 4. Retained Earnings

Question 2 (20 points) Consider the Sources and Uses for Gatorville, Inc. The firm distributed $25M in common stock dividends in 2019 Determine whether changes in the following accounts should be classified as Source or Use 1. Cash 2. Accumulated Depreciation 3. Notes Payable 4. Retained Earnings 5. Now calculate the sum of Sources and Uses 6. Calculate Net Income for 2019 and enter in Box 6. Enter your answers in order in the boxes below. Assets 2019 2018 Source Use $16 $25 66 72 6 Marketable Securities Accounts Receivable 115 108 7 24 Inventories 167 191 $388 Total Current Assets $372 $195 Gross Fixed Assets 17 178 63 50 Less: Accumulated Depreciation Net Fixed Assets $132 S128 Total Assets $520 $500 $136 $126 10 Accounts Payable Notes Payable 204 210 16 2,5 Accruals $356 $361 Total Current Liabilities 45 40 L-T Debt Total Liabilities $401 $1101 Common Stock $20 $20 99 79 Retained Earnings Total Stockholders' Equity Total Debt & Stockholders' Equity $112 $99 $520 $500 Totals AJ Question 3 (5 points)

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