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+ 3 4 What amount of deve What aspect did What impact did What were there What amount of 7. What was the de Problem 20 Selected financial st A 14 20. 5.000 condensed balance sheets and the additional information provided The Bloated Goat Cafe Condensed Balance Sheets December 31, 20X1 and 20X2 20x1 Cash $ 15.000 Accounts Receivable 15,000 Inventory 25,000 Investments (noncurrent) 10,000 Equipment 240,000 Accumulated Depreciation (20,000) Total Assets $285,000 Current Liabilities: Accounts Payable $ 18,000 Note Payable (current) 10,000 Dividends Payable 5,000 Noncurrent Liabilities: Note Payable 152.000 Common Stock 100,000 Treasury Stock (40,000) Retained Earnings 40,000 Total Liabilities and Owners' Equity $285,000 $321.000 Cash fle Coll $ 10.000 10300 105300 Pay Pay NO Cash S 171.000 100,000 (50,000) 70.000 $321,000 when What The operations of the Bad Goat Cafe, a small food service operation, are more complex. Sharon Nanny the owner, has asked for your help in understand The Statement of Cash Flows 221 Additional information: of sale was $3.000 the results of operations (net income). Required: 2 What amount of the note payable was paid during 20x22 What impact did the change in inventory during 20%2 have on cash? What impact did the change in accounts payable during 20x2 have on cash? What were the results of operations for 20x2? & What amount of investments was purchased during 20X2? 7. What was the depreciation expense for 20x2? Investments costing $10.000 were sold for $15.00 2 Dividends paid during 20x2 totaled $10,000 The cafe'ls van, which cost $20,000, was sold for $5.000. Its the book value the date Assume that the retained earnings account is affected only by dividends declared and Assume current liabilities are paid on a timely basis 1. What amount of dividends was declared during 20x2

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