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Balance Sheet

4-13.Compute the following totals for the end of 2017 and 2018.

a.Current Assets

b.Total Assets

c.Current Liabilities

d.Total Liabilities

e.Total Stockholders Equity

Basic Accounting Equation

4-14. Show whether the basic accounting equation is satisfied in problem 4-13.

4-15. Calculate the cash flows from the changes in the following from the end of 2017 to the end of 2018. Indicate inflow or outflow.

a.Accumulated Depreciation

b.Accounts Receivable

c.Inventories

d.Prepaid Expenses

e.Accounts Payable

f.Accrued Expenses

g.Plant and Equipment

h.Marketable Securities

i.Land

j.Long-Term Investments

k.Common Stock

l.Bonds Payable

Statement of Cash Flow

4-16. Prepare a statement of cash flows in proper form using the inflows and outflows from question 4-15. Assume net income (earnings after taxes) from the 2018 income statement was $10,628, and $5,000 in common stock dividends were paid. Ignore the income tax effect on the change in depreciation.

Financial Statement Corrections

4-17. Show whether your net cash flow matches the change in cash between the end-of-2017 and end-of-2018 balance sheets.

Income Statement Values

4-18.Fill in the missing income statement values for Edelen Enterprises:

Sales	900,000
COGS	________
Gross Profit	600,000
Operating Expenses	________
Operating Income (EBIT)	400,000
Interest Expense	________
Income before Taxes (EBT)	300,000
Tax Expense (25%)	________
Net Income	________

Omni Consumer Products (OCP)As of December 31 2017 2018 Assets: Cash Marketable Securities Accounts Receivable (gross) Less: Allowance for Bad Debts Accounts Receivable (net) Inventory Prepaid Expenses Plant and Equipment (gross) Less: Accumulated Depreciation Plant and Equipment (net) Land Long-Term Investments Liabilities: Accounts Payable Notes Payable Accrued Expenses Bonds Payable Stockholders' Equity: Common Stock Retained Earnings $ 5,534 952 14,956 211 14.745 10,733 3,234 57,340 29,080 28,260 1,010 2,503 $ 9,037 1,801 16,110 167 15,943 11,574 2.357 60,374 32,478 27,896 1,007 4,743 3,253 2,450 6,821 2,389 7,330 2,112 8,549 45,959 10,879 51,587 p. 78 Balance Sheet 4-13. Compute the following totals for the end of 2017 and 2018. a. Current Assets b. Total Assets c. Current Liabilities d. Total Liabilities e. Total Stockholders' Equity Basic Accounting Equation 4-14. Show whether the basic accounting equation is satisfied in problem 4-13

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