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question using the following financial statements for xyz corp how cash did xyz pay 4282262

Question

Using the following financial statements for XYZ Corp., how cash did XYZ pay to suppliers for inventory during 2014?

Using the following financial statements for XYZ Corp., how much in dividends did XYZ pay during 2014? (Hint: this question requires a calculation)

Using the following financial statements for XYZ Corp., how much in current assets did XYZ report in its December 2014 balance sheet?

Income Statement-2014

Revenues                            82,000

Cost of Goods Sold          -35000

SG&A Expenses                -15,500

Depreciation                      -6000

Interest Expense              -2500

Income Tax Expense       -5000

Net Income                                        18,000

Balance Sheets – 2014 and 2013

                                                                                                Dec 2014                              Dec 2013

Cash                                                                                      62,000                                   56,000

Accounts Receivable                                                       25,000                                   28,000

Inventory                                                                            28,000                                   20,000

Land                                                                                      120,000                                 120,000

Building, net                                                                       80,000                                   86,000

Total Assets                                                                       315,000                                 310,000

Accounts Payable                                                             32,000                                   34,000

Bonds Payable                                                                   50,000                                   50,000

Common Stock                                                                  170,000                                 170,000

Retained Earnings                                                            63,000                                   56,000

Total Liabilities and Equity                                            315,000                                 310,000

 

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