Question #7: Income statement & Cash Flow

1. Income Statement

Data for income statements:

• Fees Income: 66,700
• Wages Expense : 31,500
• Rent Expenses: 7,200
• Supplies Expense: 700
• Misc. Expense: 900

Update the following with the data provided above:

B. Cash Flow Statement:

Provide the values for:

** Using the table below

C. Did we have a decrease or increase in cash flow based on the above table?

Jim Shoes - Gym Shorts Company Income Statement Year Ending March 2019 Income Operating Expenses - $ Total Operating Expense Net Income / loss 8,732 2,123 89 Cash Flow Statement Operating activities Net Income Adjustments to reconcile net income to net cash provided by operating activities Depreciation Expense Gain / Loss on sale of fixed assets Charges in operating assets and liabilities Accounts receivable Inventories Prepaid Expenses and other current assets Acccounts payable Accrued expenses Income tax payable Net Cash provided by operating activities 2,312 (1,100) 110 1,068 (987) (60) a Investing Activities Capital Expenditures Business Acquisitions Purchase /sale of equity investments Purchase /sale of short term investments Net Cash used in investing activities (3,541) (2,000) 1,400 (1,100) b Financing Activities Borrowing/repayment of long term debt Issuance of common stock Stock Repurchase Cash dividends paid Net Cash (Used in) provided by financing activities (3,389) 0 (2,000) (3,000) C d Net (Decrease) increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 4,273 2,930