The following are the financial statements of Splish Brothers Inc.. Splish Broth

Question

The following are the financial statements of Splish Brothers Inc.. Splish Brothers Inc. Comparative Balance Sheets December 31 ts 2019 2018 Cash Accounts receivable Inventory Equipment Accumulated depreciation-equipment (29,700) (23,500) $36,400 $20,600 33,000 18,700 29,700 20,000 59,800 77,000 Total $129,200 $112,800 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $29,000 $16,200 8,300 27,400 33,000 18,600 14,300 46,700 41,000 $129,200 $112,800 7,500 Total Splish Brothers Inc For the Year Ended December 31, 2019 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes 40,100 Income tax expense Net income $242,900 175,200 67,700 24,100 43,600 3,500 7.700 $32.400 Additional data:

Explanation / Answer

Cash Flow Statement Cash flow from Operating Activities Net Income 32400 Adjsustment to reconicile net income to Net cash provided by operating actvities Depreciation Expense 13700 Increase in Account payable 12800 Increase in Account receivable -14300 Increase in Invetory -9700 decrease incomtax Payable -800 1700 Net cash provided by operating actvities 34100 Cash flow   form Investing activities sales of Equipment 9700 Cash Flow form financing actvities Dividend Paid -26700 Redemtion of Bond -5600 Issuance of common stock 4300 Net Cash used by financing actvities -28000 Increase in cash 15800 Cash at the Beginning 20600 Cash at the end 36400

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