Blooming Flower Company was started in Year 1 when it acquired $61,700 cash from the issue of common stock. The following data summarize the company's first three years' operating activities. Assume that all transactions were cash transactions. Purchases of inventory Sales Cost of goods sold Selling and administrative expenses Income Statements Required: Prepare an income statement (use multistep format) and balance sheet for each fiscal year. (Hint: Record the transaction data for each accounting period in the accounting equation before preparing the statements for that year.) Complete this question by entering your answers in the tabs below. Balance Sheets Assets Cash Merchandise inventory Total assets Liabilities Stockholders' equity Common stock Retained earnings Year 1 $ 22,600 27,000 Prepare a balance sheet for each fiscal year. (Hint: Record the transaction data for each accounting period in the accounting equation before preparing the statements for that year.) BLOOMING FLOWER COMPANY 13, 200 5,490 Total stockholders' equity Total liabilities and stockholders' equity Balance Sheets As of Year Ended December 31 Year 1 $ $ 0 $ Year 2 $ 11,500 31,700 17,700 8,130 0 $

Patton Corporation had the following items on its financial statements for two recent years: Line Item Description     Year 2     Year 1 Sales $2,500,000 $2,000,000 Cost of goods sold 1,975,000 1,600,000 Cash 500,000 475,000 Temporary investments 150,000 150,000 Accounts receivable (net) 200,000 175,000 Inventory 325,000 300,000 Accounts payable 450,000 400,000 Based on these data, calculate Patton Corporation’s working capital for Year 2.a. $725,000b. $1,625,000c. $2,050,000d. $650,000   2.  Patton Corporation had the following items on its financial statements for two recent years: Line Item Description     Year 2     Year 1 Sales $2,500,000 $2,000,000 Cost of goods sold 1,975,000 1,600,000 Cash 500,000 475,000 Temporary investments 150,000 150,000 Accounts receivable (net) 200,000 175,000 Inventory 325,000 300,000 Accounts payable 450,000 400,000 Based on these data, calculate Patton Corporation’s accounts receivable turnover for Year 2.a.…

Use the following information for the Problems below. Skip to question   [The following information applies to the questions displayed below.]Lansing Company’s current-year income statement and selected balance sheet data at December 31 of the current and prior years follow.  LANSING COMPANYIncome StatementFor Current Year Ended December 31 Sales revenue $ 127,200   Expenses       Cost of goods sold   52,000   Depreciation expense   17,000   Salaries expense   28,000   Rent expense   10,000   Insurance expense   4,800   Interest expense   4,600   Utilities expense   3,800   Net income $ 7,000        LANSING COMPANYSelected Balance Sheet Accounts At December 31 Current Year   Prior Year Accounts receivable   $ 6,600       $ 7,800   Inventory     2,980         2,040   Accounts payable     5,400         6,600   Salaries payable     1,080         800   Utilities payable     420         260   Prepaid insurance     360         480   Prepaid rent…

Selected current year-end financial statements of Concordia Corporation follow. All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $48,900; total assets, $189,400; common stock, $90,000; and retained earnings, $33,748.  Compute the following: (1) current ratio, (2) acid-test ratio, (3) days’ sales uncollected, (4) inventory turnover, (5) days’ sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on equity. Round to one decimal place; for part 6, round to two decimals.

Blooming Flower Company was started in Year 1 when it acquired $61, 300 cash from the issue of common stock. The following data summarize the company's first three years' operating activities. Assume that all transactions were cash transactions. Year 1 Year 2 Year 3 Purchases of inventory $ 22,800 $ 11, 700 S 19, 600 Sales 27, 600 30,900 36,200 Cost of goods sold 11, 600 17,500 18, 800 Selling and administrative expenses 5,310 8,050 9, 150 Required Prepare an income statement (use multistep format) and balance sheet for each fiscal year. (Hint: Record the transaction data for each accounting period in the accounting equation before preparing the statements for that year.)

nces Blooming Flower Company was started in Year 1 when it acquired $60,500 cash from the issue of common stock. The following data summarize the company's first three years' operating activities. Assume that all transactions were cash transactions. Purchases of inventory Sales Cost of goods sold Selling and administrative expenses Income Statements Required: Prepare an income statement (use multistep format) and balance sheet for each fiscal year. (Hint: Record the transaction data for each accounting period in the accounting equation before preparing the statements for that year.) Complete this question by entering your answers in the tabs below. Balance Sheets Assets Cash Merchandise inventory Prepare a balance sheet for each fiscal year. (Hint: Record the transaction data for each accounting period in the accounting equation before preparing the statements for that year.) Total assets Liabilities Stockholders' equity Common stock Retained earnings Year 1 $ 22,200 26,400 12,500…

The following information applies to the questions displayed below.]Simon Company's year-end balance sheets follow.  At December 31 Current Year 1 Year Ago 2 Years Ago Assets       Cash $ 32,700 $ 37,849 $ 37,130 Accounts receivable, net 94,775 65,580 51,527 Merchandise inventory 120,330 86,659 53,800 Prepaid expenses 10,118 10,034 4,252 Plant assets, net 285,450 268,303 235,991 Total assets $ 543,373 $ 468,425 $ 382,700 Liabilities and Equity       Accounts payable $ 138,006 $ 78,372 $ 51,022 Long-term notes payable 100,111 107,738 83,731 Common stock, $10 par value 163,500 163,500 162,500 Retained earnings 141,756 118,815 85,447 Total liabilities and equity $ 543,373 $ 468,425 $ 382,700 The company’s income statements for the current year and 1 year ago, follow.  For Year Ended December 31 Current Year 1 Year Ago Sales   $ 706,385   $ 557,426 Cost of goods sold $ 430,895   $ 362,327   Other operating expenses 218,979   141,029   Interest…

Blooming Flower Company was started in Year 1 when it acquired $61,400 cash from the issue of common stock. The following data summarize the company's first three years' operating activities. Assume that all transactions were cash transactions. Purchases of inventory Sales Cost of goods sold Selling and administrative expenses Income Statements Balance Sheets Assets Cash Required Prepare an income statement (use multistep format) and balance sheet for each fiscal year. (Hint: Record the transaction data for each accounting period in the accounting equation before preparing the statements for that year.) Merchandise inventory Complete this question by entering your answers in the tabs below. Total assets Liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Year 1 $22,300 26,500 12,400 5,310 $ 60,290 9,900 Prepare a balance sheet for each fiscal year. (Hint: Record the transaction data for each accounting…

Carolina Communications reported the following figures from its adjusted trial balance for its first year of business: Cash Selling Expenses Accounts Payable Common Stock Notes Payable, long-term Merchandise Inventory Administrative Expenses Sales Returns and Allowances Requirements 1. 2. 3. $ 3 800 Cost of Goods Sold 1 000 | Equipment, net 4 100 Accrued Liabilities 4 230 Sales Revenue 700 Accounts Receivable 500 Interest Expense 2 500 Sales Discounts 7 200 Prepare Carolina Communications' multi-step income statement for the year ended July 31, 2022. Prepare Carolina Communications' statement of owner's equity. Prepare Carolina Communications' classified balance sheet in report form. es 18 000 10 200 1 700 40 000 2 700 30 4 800

What is the portion to interest and portion to principal? That should have been answered.