Here are the most recent balance sheets for Country Kettles, Inc. Excluding accu

Question

Here are the most recent balance sheets for Country Kettles, Inc. Excluding accumulated depreciation, determine whether each item is a source or a use of cash, and the amount. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Input all amounts as positive values): COUNTRY KETTLES, INC. Balance Sheet December 31, 2016 2015 2016 Assets Cash $ 30,500 $ 29,600 Accounts receivable 70,000 73,000 Inventories 60,900 63,000 Property, plant, and equipment 148,000 157,000 Less: Accumulated depreciation (46,000 ) (50,000 ) Total assets $ 263,400 $ 272,600 Liabilities and Equity Accounts payable $ 45,000 $ 47,100 Accrued expenses 6,380 5,700 Long-term debt 25,700 28,150 Common stock 17,000 21,100 Accumulated retained earnings 169,320 170,550 Total liabilities and equity $ 263,400 $ 272,600 Item Source/Use Amount Cash $ Accounts receivable $ Inventories $ Property, plant, and equipment $ Accounts payable $ Accrued expenses $ Long-term debt $ Common stock $ Accumulated retained earnings $

Explanation / Answer

2015 2016 Increase/(decrease) Cash 30500 29600 -900 Accounts receivable 70000 73000 3000 Inventories 60900 63000 2100 Property, plant and equipment 148000 157000 9000 Less accumulated depriciation -46000 -50000 -4000 Total Assets 263400 272600 9200 Liabilities and equity accounts payable 45000 47100 2100 Accrues expenses 6380 5700 -680 Long term debt 25700 28150 2450 Common stock 17000 21100 4100 Accumulated retained earnings 169320 170550 1230 Total liabilitoes and equity 263400 272600 9200 Cash 900 use of cash Accounts receivable 3000 use of cash Inventories 2100 use of cash Property, plant and equipment 9000 use of cash accumulated depriciation 4000 source of cash Liabilities and equity accounts payable 2100 source of cash Accrued expenses 680 use of cash Long term debt 2450 source of cash Common stock 4100 source of cash Accumulated retained earnings 1230 source of cash

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