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Taxes payable decreased by $1,970. sheet information for a resort hotel reflects the changes to cur- P10.2 Balance 02accounts that occurred over the annual operating period ended De- mber 31. 0008. Cash account balance at December 31, 0007, was ce 12.020 and the ending cash balance at December 31. 0008, is $30,840. Current Asset Accounts Change Increased Increased Increased Increased Decreased Amount Cash $18,820 680 1,500 1,200 800 it card receivables Accounts receivable Inventories Prepaid expenses Current Liability Accounts Accounts payable Accrued payroll payable Taxes payable Change Decreased Increased Decreased Amount S 2,100 2,400 900 Additional information applying to the current year ending December 31, 0008: a. Net income for Year 0008 was S112,400 b. Depreciation expense for Year 2008 was $120,000. c. Furnishings with a book value of $5,400 were sold for $8,600 d. Equipment with a book value of $2,800 was sold for $2.00o. e. New furnishings were purchased for $16,800. f. New equipment was purchased for $24.200. g. A total of $54,800 was paid to reduce long-term debt. h. Cash dividends of $122,400 were declared and paid. Using the information provided, complete an SCF, in good form, using the indirect method. the years ending December 31, 0007, and December 31, 0008. Calcu- late the change in working capital and prepare the restaurant's statement of sources and uses of working capital for the year ending December 31, P10.3 You have the following comparative balance sheets for a restaurant for 0008

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