Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:Balance Sheet
December 31, 20X6
(with comparative figures for 20X5)
20X6
$ 25,000
32,000
48,000
15,000
20X5
$ -
24,000
60,000
8,000
150,000
30,000
$ 245,000 $ 212,000
Cash
Accounts receivable
Inventory
Long term investments
Property, plant, & equipment
Less: accumulated depreciation
170,000
45,000
Total Assets
$ 8,000
16,000
35,000
30,000
123,000
$ 245,000 $ 212,000
Bank overdraft
$
24,000
Accounts payable
Notes payable
Common shares
30,000
30,000
161,000
Retained earnings
Total liabilities and equity
Given the balance sheet above, prepare a statement of cash flows for Companion
Enterprises Ltd. using the indirect method. Net income for 20X6 was $88,000.
There were no disposals of capital assets or long-terminvestments.
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