Question

Summarized versions of Burritos ​Corporation's financial statements for two recent years are as follows​(Click the icon to view the financial​ statements.) Requirement 1. Complete Burritos ​Corporation's financial statements by determining the missing amounts denoted by the letters. If​ necessary, round numbers up to the nearest whole dollar. ​(Round the tax calculation to the nearest thousand dollars. Use parentheses or a minus sign when entering a net decrease in​ cash)

table 2019 2018 Income Statement (in Thousands) Revenues $15,100.00 Cost of goods sold 11,010 Other expenses 1,200 1,250 Income before income taxes 1,550 1,850 Income taxes (35%) 648 Net income Statement of Retained Earnings Beginning balance $2,720.00 Net income Dividends -94 -100 Ending balance Balance Sheet Assets Cash Property, plant, and equipment 1,477 1,346 Other assets 11,976 Total assets $14,402.00 Liabilities Current liabilities $5,700.00 Long-term debt 4,700 3,350 Other liabilities 1,025 1,170 Total liabilities $9,100.00 Stockholders' equity: Common stock $250.00 $250.00 Retained earnings Other stockholders' equity 130 110 Total stockholders' equity 4,182 Total liabilities and stockholders' equity Cash Flow Statement Net cash provided by operating activities $825.00 Net cash used in investing activities -300 -475 Net cash used in financing activities -490 -510 Increase (decrease) in cash -210 Cash at beginning of year 1,220 Cash at end of year 2019 2018 Income Statement (in Thousands) S k $ 15,100 Revenues Cost of goods sold 11,010 a 1,250 1,200 Other expenses 1,850 Income before income taxes 1,550 648 Income taxes (35%) $m $ b Net income Statement of Retained Earnings 2,720 Beginning balance $n $ Net income O C (94) (100) Dividends declared $ p $ d Ending balance Balance Sheet Assets Cash $ q $ e 1,477 Property, plant, and equipment 1,346 11,976 Other assets $s $ 14,402 Total assets Liabilities Current liabilities $t S 5,700 3,350 Long-term debt 4,700 1,025 1,170 Other liabilities Total liabilities $ 9,100 $ f Stockholders' equity: Common stock 250 S 250 Retained earnings u 130 110 Other stockholders' equity 4,182 V Total stockholders' equity S w h Total liabilities and stockholders' equity Cash Flow Statement S x S 825 Net cash provided by operating activities (300) Net cash used in investing activities (475) (510) (490) Net cash used in financing activities

Answer 1

INCOME STATEMENT	2,019.00	2,018.00
REVENUE	13,760.00	15,100.00
COST OF GOODS SOLD	11,010.00	12,000.00
OTHER EXPENSE	1,200.00	1,250.00
INCOME BEFORE INCOME TAX	1,550.00	1,850.00
INCOME TAX(35%)	543.00	648.00
NET INCOME	1,007.00	1,202.00
STATEMENT OF RETAINED EARNINGS
Beginning Balance	3,822.00	2,720.00
net income	1,007.00	1,202.00
divdend declared	-          94.00	-       100.00
Ending Balance	4,735.00	3,822.00
BALANCESHEET
ASSETS
Cash	870.00	1,080.00
Property,Plant & Equipment	1,477.00	1,346.00
Other assets	11,868.00	11,976.00
total assets	14,215.00	14,402.00
LIABILITIES
Current liabilities	3,375.00	5,700.00
Long term debt	4,700.00	3,350.00
other liabilities	1,025.00	1,170.00
total liabilities	9,100.00	10,220.00
SHAREHOLDERS EQUITY
Common Stock	250.00	250.00
Reatined Earnings	4,735.00	3,822.00
other stockholders equity	130.00	110.00
SHAREHOLDERS EQUITY	5,115.00	4,182.00
total liabilities & stockholders equity	14,215.00	14,402.00
CASH FLOW STATEMENT
Net cash provided by operating activities	600.00	825.00
net cash used in investing activity	-       300.00	-       475.00
net cash used in financing activity	-       510.00	-       490.00
Increase/(decrease)in cash	-       210.00	-       140.00
cash at beginning of year	1,080.00	1,220.00
cash at end of year	870.00	1,360.00