Question

1Data Table Partial Income Statement Year Ending 2017 Sales revenue Cost of goods sold Fixed costs Selling, general, and administrative expenses Depreciation $349,900 $141,900 $42,900 $27,800 $45,900 Partial Balance Sheet 12/31/2016 LIABILITIES ASSETS Cash Accounts receivable $14,100 $18,900 $190,000 $15,900 Notes payable Fixed assets Accumulated depreciation Intangible assets $27,900 Accounts payable $48,100 Long-term debt $368,000 OWNERS' EQUITY $143,600 Retained earnings $81,900Common stock $131,900 Partial Balance Sheet 12/31/2017 ASSETS LIABILITIES Cash $25,800 Notes payable $19.000IAccounts pava $11,900 unts receivable Print Done
Cash flow to owners. Use the data from the following financial statements in the popup​ window, LOADING... . The company paid interest expense of $ 18 comma 700$18,700 for 20172017 and had an overall tax rate of 40 %40% for 20172017. Find the cash flow to owners for 20172017 by parts and​ total, with the parts being dividends paid and increases in borrowing from owners​ (change in common stock and​ paid-in-surplus).

Answer 1

Calculate balance of retained earnings as on 1st January 2014 Total liabilities and Balance of Retained earnings Total assets of 2013 stockholder's equity of 2013 $15,900 + $28,100 $14,000 + $18,900 + -+$48,200 + $367,800 $189,900 + $131,900 $141,500 + $82,200 Therefore, retained earnings on 1st January 2014 is $46,000 Calculate net income earned during year 2014 Calculate net income for vear ended 2014 Amount (S) Amount (S) S350,200 Particulars Sales revenue Cost of goods sold Fixed costs S141,800 $43,200 $28,000 $45,800 $18,200 es Depreciation Interest e Total expenses Income before taxes se S277,000 $73,200 $29,280 $43,920 Net income Therefore, net income for year ended 2014 is $43,920