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Find the value in the financial statements

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Reference no: EM13504692

Enter the missing valuesin the following financial statements. Assume the company started operations January 1, 2013, and all transactions involve cash. (Amounts in parentheses do not require a minus sign in front of them.)

For the Years

2013 2014 2015
Income Statements
Revenue $ 430
$ 530
$ 830
Expense
(265 )
( )
(440 )

Net income $

$ 115
$ 390

Statement of Changes in Stockholders' Equity
Beginning common stock $ 0
$

$ 9,700
Plus: Common stock issued



1,400

340

Ending common stock $ 8,300
$ 9,700




Beginning retained earnings
0

31

81
Plus: Net income



115

390
Less: Dividends
( )
(65 )
(159 )

Ending retained earnings
31




312

Total stockholders' equity $

$ 9,781
$


Balance Sheets
Assets
Cash $

$

$

Land
0




2,650

Total assets $ 12,000
$ 12,650
$ 11,500

Liabilities $

$

$ 1,148

Stockholders' equity








Common stock $

$

$ 10,040
Retained earnings



81

312

Total stockholders' equity
8,331

9,781

10,352

Total liabilities and stockholders' equity $ 12,000
$ 12,650
$ 11,500











Statements of Cash Flows
Cash flows from operating activities







Cash receipts from customers $

$ 530
$

Cash payments for expenses
( )
(415 )
( )

Net cash flows from operating activities
165

115

390

Cash flows from investing activities







Cash payments for land
0

(5,300 )
0
Cash receipt from sale of land
0

0

2,650

Net cash flows from investing activities
0

(5,300 )
2,650

Cash flows from financing activities







Cash receipts from borrowed funds
3,669

0

0
Cash payments to reduce debt
0

(800 )
( )
Cash receipts from stock issue
8,300

1,400



Cash payments for dividends
(134 )
(65 )
( )

Net cash flows from financing activities
11,835

535

(1,540 )

Net change in cash
12,000

(4,650 )
1,500
Plus: Beginning cash balance
0

12,000

7,350

Ending cash balance $ 12,000
$ 7,350
$ 8,850

 

Reference no: EM13504692

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