Laris Corporation Income Statement For the year ended December 31, 2019 Sales revenue Cost of goods sold $150,000 117,500 $32,500 Gross Profits Selling expense General and administrative expense 4,000 Depreciation expense Operating profits 4,500 4,000 $ 20,000 2,500 Interest expense Net profit before taxes Taxes (40°%) Net profit after taxes $ 17,500 7,000 $ 10,500 Laris Corporation Balance Sheet For the Years Ended December 31, 2017 and 2018 2019 2018 Assets Cash $24,000 $21,000 39,000 27,000 Accounts receivable 45,000 30,000 Inventory Gross fixed assets Acc. Depreciation Net fixed assets $42,000 22,000 $40,000 18,000 20,000 $119,000 22,000 $109,000 Total assets Liabilities and Equity Accounts payable Notes payable Accruals $25,000 50,000 $30,000 40,000 2,000 1,000 Long-term debts Common stock at par Paid-in capital in excess of par Retained earnings Total liabilities and equity 10,000 8,000 1,000 1,000 4,000 24,000 $109,000 4,000 28,000 $119,000

Laris Corporation Income Statement For the year ended December 31, 2019 Sales revenue Cost of goods sold $150,000 117,500 $32,500 Gross Profits Selling expense General and administrative expense 4,000 Depreciation expense Operating profits 4,500 4,000 $ 20,000 2,500 Interest expense Net profit before taxes Taxes (40°%) Net profit after taxes $ 17,500 7,000 $ 10,500 Laris Corporation Balance Sheet For the Years Ended December 31, 2017 and 2018 2019 2018 Assets Cash $24,000 $21,000 39,000 27,000 Accounts receivable 45,000 30,000 Inventory Gross fixed assets Acc. Depreciation Net fixed assets $42,000 22,000 $40,000 18,000 20,000 $119,000 22,000 $109,000 Total assets Liabilities and Equity Accounts payable Notes payable Accruals $25,000 50,000 $30,000 40,000 2,000 1,000 Long-term debts Common stock at par Paid-in capital in excess of par Retained earnings Total liabilities and equity 10,000 8,000 1,000 1,000 4,000 24,000 $109,000 4,000 28,000 $119,000

Name: Prepare the “Statement of Cash Flows” of Laris Corporation for 2019, b
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Description: Prepare the “Statement of Cash Flows” of Laris Corporation for 2019, by using the financial statements below. Laris Corporation Income StatementFor the year ended December 31, 2019Sales revenueCost of goods soldGross Profits$150,000117,500$32,500Sell

Fundamentals of Financial Management (MindTap Course List)

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...

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