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Presented here are the financial statements of Marigoid Company Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Marigold Company Comparative Balance Sheets December 31 Sales revenue Cost of goods sold Gross proft Selling expenses Administrative expenses Income from operations interest expense Income before income taxes Income tax expense Net income Additional data 2022 $37.900 32.300 29,900 60.000 $130,400 $18.600 6.200 Marigold Company Income Statement For the Year Ended December 31, 2022 $28,800 7.000 27,400 (29.700) (23,000) 18,100 $130.400 49.100 5241,300 175.700 65.600 24.800 40.800 2400 38.400 7.680 2021 $30,720 $19.700 19.500 20,000 78,000 $114.200 $16.700 8.300 32.000 14.100 43.100 $114.200

Presented here are the financial statements of Marigoid Company Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Marigold Company Comparative Balance Sheets December 31 Sales revenue Cost of goods sold Gross proft Selling expenses Administrative expenses Income from operations interest expense Income before income taxes Income tax expense Net income Additional data 2022 $37.900 32.300 29,900 60.000 $130,400 $18.600 6.200 Marigold Company Income Statement For the Year Ended December 31, 2022 $28,800 7.000 27,400 (29.700) (23,000) 18,100 $130.400 49.100 5241,300 175.700 65.600 24.800 40.800 2400 38.400 7.680 2021 $30,720 $19.700 19.500 20,000 78,000 $114.200 $16.700 8.300 32.000 14.100 43.100 $114.200

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. 2 3. at 4 S Depreciation expense was $15.500. Dividends declared and paid were $24,720. During the year equipment was sold for $9,200 cash. This equipment cost $18,000 originally and had accumulated depreciation of $8,800 at the time of sale. Bonds were redeemed at their carrying value. Common stock was issued at par for cash. (b) free cas Compute free cash flow. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000)) Free cash flow eTextbook and Media Save for Later Attempts: 1 of 3 used Submit Answer
Transcribed Image Text:1. 2 3. at 4 S Depreciation expense was $15.500. Dividends declared and paid were $24,720. During the year equipment was sold for $9,200 cash. This equipment cost $18,000 originally and had accumulated depreciation of $8,800 at the time of sale. Bonds were redeemed at their carrying value. Common stock was issued at par for cash. (b) free cas Compute free cash flow. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000)) Free cash flow eTextbook and Media Save for Later Attempts: 1 of 3 used Submit Answer
Presented here are the financial statements of Marigold Company Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Marigold Company Comparative Balance Sheets December 31 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Sales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income Additional data 2022 $37.900 32,300 $18.600 6.200 29,900 $130,400 20,000 78,000 (29.700) (23,000) $114.200 60,000 Marigold Company Income Statement For the Year Ended December 31, 2022 $28,800 7,000 27.400 $130.400 18,100 49, 100 $241,300 175.700 65.600 24800 40.800 2400 38.400 7.680 2021 $30,720 $19.700 19.500 $16.700 8.300 32.000 14.100 43.100 5114,200
Transcribed Image Text:Presented here are the financial statements of Marigold Company Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Marigold Company Comparative Balance Sheets December 31 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Sales revenue Cost of goods sold Gross profit Selling expenses Administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income Additional data 2022 $37.900 32,300 $18.600 6.200 29,900 $130,400 20,000 78,000 (29.700) (23,000) $114.200 60,000 Marigold Company Income Statement For the Year Ended December 31, 2022 $28,800 7,000 27.400 $130.400 18,100 49, 100 $241,300 175.700 65.600 24800 40.800 2400 38.400 7.680 2021 $30,720 $19.700 19.500 $16.700 8.300 32.000 14.100 43.100 5114,200
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