Maurice Tutor

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    Argosy University/ Phoniex University/
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    Oct-2001 - Nov-2016

Category > Accounting Posted 26 Sep 2017 My Price 8.00

North Western Company

North Western Company provides the following financial information. Prepare a statement of cash flows for 2003, using the indirect method to report cash flows from operating activities.

North Western Company

Comparative Balance Sheets

For the Years Ended December 31, 2003 and 2002

Assets

2003

2002

Cash and cash equivalents

$ 4,500

$ 9,000

Accounts receivable (net).

33,000

36,000

Inventory

75,000

60,000

Plant and equipment (net)

262,500

225,000

Total assets

$375,000

$330,000

Liabilities and Stockholders’ Equity

  

Accounts payable.

$ 60,000

$ 54,000

  

Capital stock

225,000

217,500

  

Retained earnings

90,000

58,500

  

Total liabilities and stockholders’ equity

$375,000

$330,000

  
           

North Western Company

Income Statement

For the Year Ended December 31, 2003

Sales

$412,500

Cost of goods sold.

225,000

Gross margin. .

$187,500

Operating expenses

135,000

Net income

$ 52,500

 

Answers

Maurice Tutor
(5)
Status NEW Posted 26 Sep 2017 05:09 PM My Price 8.00

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