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 $ 32,300 $ 31,580 Accounts receivable 71,800 75,160 Inventories 62,700 65,250 Property, plant, and equipment 166,000 178,600 Less: Accumulated depreciation (47,440 ) (51,800 ) Total assets $ 285,360 $ 298,790 Liabilities and Equity Accounts payable $ 46,800 $ 49,080 Accrued expenses 8,180 7,140 Long-term debt 27,500 30,850 Common stock 35,000 40,900 Accumulated retained earnings 167,880 170,820 Total liabilities and equity $ 285,360 $ 298,790 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

Item December 31, 2016 December 31, 2015 Amount $ Source/Use Cash 32300 31580 720 Source Accounts receivable 71800 75160 (3360) Source Inventories 62700 65250 (2550) Source Property, plant, and equipment 166000 178600 (12600) Source Accounts payable 46800 49080 (2280) Use (for payment of liability) Accrued expenses 8180 7140 1040 Source Long-term debt 27500 30850 (3350) Use Common stock 35000 40900 (5900) Use Accumulated retained earnings 167880 170820 (2940) Use

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