Balance Sheet, Net Income, and Cash Flows Financial information related to Abby's Interiors for October and November of 20Y6 is as follows:   October 31, 20Y6 November 30, 20Y6 Notes payable $204,000 $234,000 Land 490,000 561,000 Common stock 77,000 91,000 Retained earnings ? ? Cash 58,000 173,000 a.  Prepare balance sheets for Abby's Interiors as of October 31, 20Y6. Abby's Interiors Balance Sheet October 31, 20Y6 Assets Cash      Land      Total assets   $ Liabilities Notes payable    $ Stockholders' Equity Common stock  $   Retained earnings      Total stockholders' equity     Total liabilities and stockholders' equity   $ Prepare balance sheets for Abby's Interiors as of November 30, 20Y6. Abby's Interiors Balance Sheet November 30, 20Y6 Assets Cash    $ Land      Total assets   $ Liabilities Notes payable    $ Stockholders' Equity Common stock  $   Retained earnings      Total stockholders' equity     Total liabilities and stockholders' equity   $ b.  Determine the amount of net income for November, assuming that dividends of $12,000 were paid.$ c.  Determine the net cash flows from operating activities for November.$ d.  Determine the net cash flows from investing activities for November.$ e.  Determine the net cash flows from financing activities for November.$ f.  Determine the net increase or decrease in cash for November.$

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Chapter3: The Basics Of Record Keeping And Financial Statement Preparation: Income Statement
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Balance Sheet, Net Income, and Cash Flows

Financial information related to Abby's Interiors for October and November of 20Y6 is as follows:

  October 31, 20Y6 November 30, 20Y6
Notes payable $204,000 $234,000
Land 490,000 561,000
Common stock 77,000 91,000
Retained earnings ? ?
Cash 58,000 173,000

a.  Prepare balance sheets for Abby's Interiors as of October 31, 20Y6.

Abby's Interiors
Balance Sheet
October 31, 20Y6
Assets
Cash     
Land     
Total assets   $
Liabilities
Notes payable    $
Stockholders' Equity
Common stock  $  
Retained earnings     
Total stockholders' equity    
Total liabilities and stockholders' equity   $

Prepare balance sheets for Abby's Interiors as of November 30, 20Y6.

Abby's Interiors
Balance Sheet
November 30, 20Y6
Assets
Cash    $
Land     
Total assets   $
Liabilities
Notes payable    $
Stockholders' Equity
Common stock  $  
Retained earnings     
Total stockholders' equity    
Total liabilities and stockholders' equity   $

b.  Determine the amount of net income for November, assuming that dividends of $12,000 were paid.
$

c.  Determine the net cash flows from operating activities for November.
$

d.  Determine the net cash flows from investing activities for November.
$

e.  Determine the net cash flows from financing activities for November.
$

f.  Determine the net increase or decrease in cash for November.
$

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