2018 Income Balance Statement Sheets $ 455,000 (221,500) (58,600) (24,000) 23,500 174,400 Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Gain on Sale of Plant Assets Net Income Dec. 31, 2018 $321,450 39,750 33,000 17,550 3,500 Cash Accounts Receivable Inventory Accounts Payable Accrued Liabilities Dec. 31, 2017 $133,500 36,500 35,000 19,550 2,200 Cash Accounts Receivable Inventory Accounts Payable Accrued Liabilities Additional information: Plant assets were sold for $40,000; book value $16,500 Dividends of $25,000 were declared and paid

2018 Income Balance Statement Sheets $ 455,000 (221,500) (58,600) (24,000) 23,500 174,400 Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Gain on Sale of Plant Assets Net Income Dec. 31, 2018 $321,450 39,750 33,000 17,550 3,500 Cash Accounts Receivable Inventory Accounts Payable Accrued Liabilities Dec. 31, 2017 $133,500 36,500 35,000 19,550 2,200 Cash Accounts Receivable Inventory Accounts Payable Accrued Liabilities Additional information: Plant assets were sold for $40,000; book value $16,500 Dividends of $25,000 were declared and paid

Name: Use the following information from Yardley Company’s financial stateme
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Description: Use the following information from Yardley Company’s financial statements to prepare a statement of cash flows (indirect method). 2018 IncomeBalanceStatementSheets$ 455,000(221,500)(58,600)(24,000)23,500174,400SalesCost of Goods SoldOperating Expense

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...

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