Retained earningsTotalAdditional information:1.2.3.4.5.6.7.$597,400$558,100Net income for 2022 was $101,800.Depreciation expense was $31,800.Cash dividends of $37,300 were declared and paid.Bonds payable with a carrying value of $54,800 were redeemed for $54,800 cash.Common stock was issued at par for $41,200 cash.No equipment was sold during 2022.Land was sold for its book value.Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a - signe.g. -15,000, or in parenthesis e.g. (15,000).) The following are comparative balance sheets for Concord Company.AssetsCashAccounts receivableInventoryLandEquipmentAccumulated depreciation-equipmentTotalCONCORD CompanyComparative Balance SheetsDecember 31Liabilities and Stockholders' EquityAccounts payableBonds payableCommon stock ($1 par)Retained earningsTotal2022$73,00086,500170,00072,900261,000(66,000)$597,400$35,400148,800216,500196,700$597.4002021$33,40070,900187,000100,300200,700(34,200)$558,100$47,000203,600175,300132,200$558.100

Introduction: A cash flow statement is one of the financial statements issued by a company that…

The following are comparative balance sheets for Concord Company. Assets Cash Accounts receivable Inventory Land CONCORD Company Comparative Balance Sheets December 31 Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings 2022 $73,000 86,500 170,000 72,900 261,000 (66,000) $597,400 $35,400 148,800 216,500 196,700 65077 100 2021 $33,400 70,900 187,000 100,300 200,700 (34,200) $558,100 $47,000 203,600 175,300 132,200 $550 400

The following are comparative balance sheets for Concord Company. Assets Cash Accounts receivable Inventory Land CONCORD Company Comparative Balance Sheets December 31 Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings 2022 $73,000 86,500 170,000 72,900 261,000 (66,000) $597,400 $35,400 148,800 216,500 196,700 65077 100 2021 $33,400 70,900 187,000 100,300 200,700 (34,200) $558,100 $47,000 203,600 175,300 132,200 $550 400

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 6BE

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Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) (a)Current ratioenter the ratio rounded to 2 decimal places (b)Acid-test ratioenter the ratio rounded to 2 decimal places…
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