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This Study Resource Was: Account 2018 2019 Balance Sheet

This balance sheet shows the company's assets, liabilities, and equity for 2018 and 2019. Total assets increased from 2018 to 2019, with higher cash and accounts receivable balances offsetting lower inventory. Total liabilities remained the same, while retained earnings increased the total equity. The income statement shows revenues and costs for 2019, resulting in net income. The cash flow statement details changes in operating assets and liabilities from 2018 to 2019, with positive operating cash flows both years.

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1K views1 page

This Study Resource Was: Account 2018 2019 Balance Sheet

This balance sheet shows the company's assets, liabilities, and equity for 2018 and 2019. Total assets increased from 2018 to 2019, with higher cash and accounts receivable balances offsetting lower inventory. Total liabilities remained the same, while retained earnings increased the total equity. The income statement shows revenues and costs for 2019, resulting in net income. The cash flow statement details changes in operating assets and liabilities from 2018 to 2019, with positive operating cash flows both years.

Uploaded by

Hezboforce12
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Balance Sheet

Account 2018 2019


ASSETS
Current Assets
Cash 170,000 380,000
Inventory 625,000 375,000
Accounts Receivable - 90,000
Total Current Assets 795,000 845,000

TOTAL ASSETS 795,000 845,000

LIABILITIES
Current Liabilities
Bank Loan Payable 50,000 50,000
Total Current Liabilities 50,000 50,000

TOTAL LIABILITIES 50,000 50,000

EQUITY

m
er as
Paid-In Capital 750,000 750,000
Retained Earnings (5,000) 45,000

co
eH w
TOTAL EQUITY 745,000 795,000

o.
TOTAL LIABILITIES & EQUITY
rs e 795,000 845,000
ou urc
Income Statement
Account 2018 2019
o

Revenue 2,500,000
COGS 1,700,000
aC s

Gross Profit - 800,000


vi y re

Operating Expenses
SG&A Expense - 745,000
Total Operating Expenses 745,000
ed d

Operating Profit (EBIT) - 55,000


ar stu

Interest Expense 5,000 5,000


Net Income (5,000) 50,000
is

Cash Flow Statement


Th

Account 2018 2019


Cash Flows from operating activities:
Net Income (5,000) 50,000
Change in Inventory (625,000) 250,000
sh

Change in Accounts Receivable - (90,000)


Total Operating Cash Flows (630,000) 210,000

Cash flows from financing activities:


Common stock issued 750,000 -
Proceeds from loan 50,000 -
Total Financing Cash Flows 800,000 -

Total Cash Flows 170,000 210,000


Beginning Cash 170,000
Ending Cash 170,000 380,000

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