Question

The income statement, balance sheets, and additional information for Great Adventures, Inc., are provided below. $174,820 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net revenues : Expenses: Cost of goods sold $39,000 Operating expenses 57,500 Depreciation expense 18,000 Interest expense 8,032 Income tax expense 15,000 Total expenses Net income 137,532 $ 37,288 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 Increase (I) or Decrease (D) $ Assets Current assetst Cash Accounts receivable Inventory Other current assets Long-term assets Land Buildings Equipment Accumulated depreciation Total assets 218,748 48,500 8,000 1,000 $ 61,200 0 D 4,900 $ 157,548 (I) 48,500 (1) 8,000 (1) 3,900 (D) 600,000 (I) 830,000 (1) 27,300 (1) 18,000 (1) 600,000 830,000 72,300 (26,250) $1,752,298 0 0 45,000 (3.250) $106,250 $ $ 22,200 (1) Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Other current liabilities Notes payable (current and long-term) Stockholders' equity! Common stock Paid-in capital Retained earnings Treasury stock Total liabilities and stockholders' equity 25,200 800 15,000 24,000 623, 660 $3,000 800 14,100 0 31,000 900 (I) 24,000 (I) 592,660 (I) 20,000 130,000 995,000 58,638 (120,000) $1,752,298 33,950 D $106,250 110,000 (1) 995,000 (I) 24,688 (1) (120,000) (1) Adelantan DA

All of this is the same question its just long so i had to take the screenshot in parts.

Some I got right and others I got wrong. I cant see where I went wrong or if im missing anything. plz help. thanks

Answer 1

	Cash flows from Operating activities
	Net income for the year					37,288
	Adjustments to reconcile net income to net cash
	flows from operating activities
	Depreciation expense					18,000
	increase in accounts receivable					-48,500
	increase in inventory					-8,000
	decrease in current assets					3,900
	increase in accounts payable					22,200
	increase in income taxes payable					900
	increase in other current liabilities					24,000
	net cash provided by operating activities						49,788
	cash flows from investing activities
	purchase of building					-830,000
	purchase of equipment					-27,300
	net cash used by operating activities						-857,300
	Cash flows from financing activities
	issued common stock					1,100,000
	reissued treasury stock					105000
	payment of dividends					-12600
	purchased treasury stock					-220,000
	repayment of notes payable					-7340
	net cash provided by financing activities						965,060
	net increase in cash						157,548
	cash at the beginning of the year						61200
	cash at year end						218,748