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Problem 1: Baltimore Company's complete assets and liabilities are Accounts Receivable $3,250, Equipment $11,000, Accounts Payable $6,100, Prepaid Rent $2,400, Supplies $825, Bank Loan $2,950, and Tools $635. Baltimore's total equity is: (All account balances are normal.)
Problem 2: Baltimore Company experienced a total increase in stockholders' equity of $120,000 during the current year. Stockholders' equity was increased by additional issuances of $59,000 capital stock during the year. No dividends were paid. Expenses incurred during the year were $16,000. How much was Baltimore's revenue for the year?
Financial Statement Analysis and Preparation
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Computation of Free Cash Flow
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