About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:

Algebra,Applied Sciences See all

Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all

Teaching Since:	May 2017
Last Sign in:	431 Weeks Ago, 4 Days Ago
Questions Answered:	66690
Tutorials Posted:	66688

Education

MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011

Experience

Professor
Phoniex University
Oct-2001 - Nov-2016

Category > Management Posted 05 Feb 2018 My Price 8.00

Little Bit Inc

4.11. The following comparative balance sheets and income statement are available for Little Bit Inc. Prepare a statement of cash flows for 2012 using the indirect method and analyze the statement.

December 31,

2012 2011

Cash	$ 40,000	$ 24,000
Accounts receivable (net)	48,000	41,500
Inventory	43,000	34,500
Prepaid expenses	19,000	15,000
Total Current Assets	$150,000	$115,000
Plant and equipment	$ 67,000	$ 61,000
Less accumulated depreciation	(41,000)	(23,000)
Plant and equipment (net)	$ 26,000	$ 38,000
Long-term investments	90,000	89,000
Total Assets	$266,000	$242,000
Accounts payable	$ 13,000	$ 11,000
Accrued liabilities	55,000	71,000
Total Current Liabilities	$ 68,000	$ 82,000
Long-term debt	25,000	8,000
Deferred taxes	4,000	3,500
Total Liabilities	$ 97,000	$ 93,500
Common stock ($1 par) and additional paid-in capital	112,000	97,000
Retained earnings	57,000	51,500
Total Liabilities and Equity	$266,000	$242,000

Income Statement for 2012

Sales		$155,000
Cost of goods sold		83,000
Gross profit		$ 72,000
Selling and administrative	$ 45,700
Depreciation	18,000	63,700
Operating profit		$ 8,300
Interest expense		2,000
Earnings before tax		$ 6,300
Tax expense		800
Net income		$ 5,500

Answers

Maurice Tutor

(5)

Status NEW Posted 05 Feb 2018 09:02 PM My Price 8.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------.Pl-----------eas-----------e p-----------ing----------- me----------- on-----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be-----------

Not Rated(0)

Buy Answer

Hire Dedicated Virtual Team / Business Solution for SMEs.