Reference no: EM133012135
Preparing the Financial Statements Listed below are items reported on the financial statements of the Huntington Company as of June 30:
Cash flow provided by operating activities . . . $21,000
Other long-term assets . . . . . . . . . . . . $17,500
Cash, beginning-of-year . . . . . . . . . . . . . . . . . 9,000
Cash flow from financing activities . . . 1,300
Cash, end-of-year. . . . . . . . . . . . . . . . . . . . . . 16,000
Current liabilities . . . . . . . . . . . . . . . . . 22,000
Inventory. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,500
Long-term liabilities. . . . . . . . . . . . . . . 18,250
Accounts receivable . . . . . . . . . . . . . . . . . . . . 12,200
Intangible assets. . . . . . . . . . . . . . . . . 9,500
Cash flow from investing activities . . . . . . . . . (15,300)
Common stock . . . . . . . . . . . . . . . . . . 51,000
Other current assets. . . . . . . . . . . . . . . . . . . . 1,500
Retained earnings . . . . . . . . . . . . . . . ?
Property, plant and equipment . . . . . . . . . . . . 40,000
REQUIRED
Problem 1: Prepare a classified balance sheet as of June 30 and statement of cash flows for the current year.