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Partial Income Statement Year Ending 2017 Sales revenue $350,200 Cost of goods sold $142,000 Fixed costs $42,800 Selling, general, and administrative expenses Depreciation (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 LIABILITIES $15,800 Notes payable $28,100 Accounts payable $48,100 Long-term debt ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets $28,200 $46,100 ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets $367,800 OWNERS' EQUITY $143,600 Retained earnings $81,800 Common stock $81,800 Common stock $14,200 $18,800 $190,200 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 LIABILITIES $26,100 Notes payable $18,800 Accounts payable $53,200 Long-term debt $447,900 OWNERS' EQUITY Retained earnings $131,900 $11,900 $24,000 $162,100 $182,000

Partial Income Statement Year Ending 2017 Sales revenue $350,200 Cost of goods sold $142,000 Fixed costs $42,800 Selling, general, and administrative expenses Depreciation (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 LIABILITIES $15,800 Notes payable $28,100 Accounts payable $48,100 Long-term debt ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets $28,200 $46,100 ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets $367,800 OWNERS' EQUITY $143,600 Retained earnings $81,800 Common stock $81,800 Common stock $14,200 $18,800 $190,200 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 LIABILITIES $26,100 Notes payable $18,800 Accounts payable $53,200 Long-term debt $447,900 OWNERS' EQUITY Retained earnings $131,900 $11,900 $24,000 $162,100 $182,000

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter16: Statement Of Cash Flows
Section: Chapter Questions
Problem 2TP: Use a spreadsheet and the following financial information from Mineola Companys financial statements...
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Partial Income Statement Year Ending 2017 Sales revenue $350,200 Cost of goods sold $142,000 Fixed costs $42,800 Selling, general, and administrative expenses Depreciation (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 LIABILITIES $15,800 Notes payable $28,100 Accounts payable $48,100 Long-term debt ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets ASSETS Cash Accounts receivable Inventories $28,200 $46,100 Fixed assets Accumulated depreciation Intangible assets $367,800 OWNERS' EQUITY $143,600 Retained earnings $81,800 Common stock (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 LIABILITIES $26,100 Notes payable $18,800 Accounts payable $53,200 Long-term debt $447,900 OWNERS' EQUITY Retained earnings $81,800 Common stock $14,200 $18,800 $190,200 $131,900 $11,900 $24,000 $162,100 $182,000
Transcribed Image Text:Partial Income Statement Year Ending 2017 Sales revenue $350,200 Cost of goods sold $142,000 Fixed costs $42,800 Selling, general, and administrative expenses Depreciation (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 LIABILITIES $15,800 Notes payable $28,100 Accounts payable $48,100 Long-term debt ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets ASSETS Cash Accounts receivable Inventories $28,200 $46,100 Fixed assets Accumulated depreciation Intangible assets $367,800 OWNERS' EQUITY $143,600 Retained earnings $81,800 Common stock (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 LIABILITIES $26,100 Notes payable $18,800 Accounts payable $53,200 Long-term debt $447,900 OWNERS' EQUITY Retained earnings $81,800 Common stock $14,200 $18,800 $190,200 $131,900 $11,900 $24,000 $162,100 $182,000
Cash flow identity. Use the data from the following financial statements the popup window,. The company paid interest expense of $17,700 for 2017 and had an overall tax rate of 40% for 2017. Verify the cash flow identity: cash flow from assets = cash flow to creditors + cash flow to owners The cash flow from assets is $ (Round to the nearest dollar.)
Transcribed Image Text:Cash flow identity. Use the data from the following financial statements the popup window,. The company paid interest expense of $17,700 for 2017 and had an overall tax rate of 40% for 2017. Verify the cash flow identity: cash flow from assets = cash flow to creditors + cash flow to owners The cash flow from assets is $ (Round to the nearest dollar.)
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