The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated Accounts Payable Accounts Receivable Cash (balance on January 1, 2021) Cash (balance on December 31, 2021) Common Stock Dividends Equipment Income Tax Expense $ 52,000 29,800 104,400 89,000 148,000 0 143,700 10,800 20 200

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 14E: Interest and Income Taxes Staggs Company has prepared its 2019 statement of cash flows. In...
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The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated
Accounts Payable
Accounts Receivable
Cash (balance on January 1, 2021)
Cash (balance on December 31, 2021)
Common Stock
Dividends
Equipment
Income Tax Expense
Interest Expense
Inventory
Notes Payable
Office Expense
Prepaid Rent
Retained Earnings (beginning)
Salaries and Wages Expense
Service Revenue
Utilities Expense
Salaries and Wages Payable
Other cash flow information:
Cash from issuing common stock
Cash paid to reacquire common stock
Cash paid for income taxes
Cash paid to purchase long-term assets
Cash paid to suppliers and employees
Cash received from customers
$ 52,000
29,800
104,400
89,000
148,000
0
143,700
10,800
30, 200
17,900
29,700
15,000
7,700
9,800
36,400
151,800
25,800
15,000
$ 28,000
31,700
11,700
59,400
91,600
151,000
PLEASE PREPARE INCOME STATEMENT, STATEMENT OF RETAINED
EARNINGS, AND BALANCE SHEET.
W
Transcribed Image Text:The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated Accounts Payable Accounts Receivable Cash (balance on January 1, 2021) Cash (balance on December 31, 2021) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Office Expense Prepaid Rent Retained Earnings (beginning) Salaries and Wages Expense Service Revenue Utilities Expense Salaries and Wages Payable Other cash flow information: Cash from issuing common stock Cash paid to reacquire common stock Cash paid for income taxes Cash paid to purchase long-term assets Cash paid to suppliers and employees Cash received from customers $ 52,000 29,800 104,400 89,000 148,000 0 143,700 10,800 30, 200 17,900 29,700 15,000 7,700 9,800 36,400 151,800 25,800 15,000 $ 28,000 31,700 11,700 59,400 91,600 151,000 PLEASE PREPARE INCOME STATEMENT, STATEMENT OF RETAINED EARNINGS, AND BALANCE SHEET. W
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