QUESTION 21 LAST CHANCE BANK OF TOMBSTONE BALANCE SHEET -- ASSETS LIABILITIES & NET WORTH cash in the vault: deposits at Fed US treasury bonds: loans: Building: demand deposits: $900,000 $100,000 $300,000 $3.700,000 $2.000,000 $7,000,000 $5,000,000 capital stock: TOTALS: $2,000,000 $7,000,000 TOTALS: 21. If the required reserve ratio is 10%, what is the level of excess reserves this bank holds? $900,000 O $1,000,000 O $1,300,000 $500,000 O $400,000

3 ook rences Exercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO P5 Cash and cash equivalents, December 31 prior year-end Cash and cash equivalents, December 31 current year-end Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Land purchased by issuing long-term notes payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received from customers Cash paid for inventory FERRON COMPANY Statement of Cash Flows For Year Ended December 31 Use the above information about Ferron Company to prepare a complete statement of cash flows (direct method) for the current year ended December 31. Use a note disclosure for any noncash investing and financing activities. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from operating activities $…

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Rahul