Homework Answers
Question 1
Correct answer----------Shows the net change in cash over a period of time.
Balance sheet shows financial position of the company Income statement shows the difference between revenues and expenses.
Profitability of a company is not assured by cash flow statement
Question 2
Correct answer----------$584,000
Working
| Beginning retained earnings | $ 195,000.00 |
| Beginning common stock | $ 320,000.00 |
| Total beginning stockholder's equity | $ 515,000.00 |
| Add; Net income | $ 46,000.00 |
| Add: Additional shares issued | $ 28,000.00 |
| Less: Dividends | $ (5,000.00) |
| Total Ending stockholder's equity | $ 584,000.00 |
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