Solution-Define the comparative balance sheets of grouper

Define the comparative balance sheets of grouper inc

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Reference no: EM131762828

The comparative balance sheets of Grouper Inc. at the beginning and the end of the year 2017 are as follows.

GROUPER INC. BALANCE SHEETS
Dec. 31, 2017	Jan. 1, 2017	Inc./Dec.
Assets
Cash	mce_markernbsp;46,760	mce_markernbsp;14,760	$32,000	Inc.
Accounts receivable	94,360	89,600	4,760	Inc.
Equipment	42,360	23,600	18,760	Inc.
Less: Accumulated Depreciation-Equipment	20,360	11,000	9,360	Inc.
Total	$163,120	$116,960
Liabilities and Stockholders' Equity
Accounts payable	mce_markernbsp;23,360	mce_markernbsp;16,600	6,760	Inc.
Common stock	101,760	81,600	20,160	Inc.
Retained earnings	38,000	18,760	19,240	Inc.
Total	$163,120	$116,960

Net income of $47,360 was reported, and dividends of $28,120 were paid in 2017. New equipment was purchased and none was sold.

Prepare a statement of cash flows for the year 2017. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Reference no: EM131762828

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Define the comparative balance sheets of grouper inc

Reference no: EM131762828

Reference no: EM131762828

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