| Assignment 3, Part 2 Template |
| Instructions:
Download and save a copy of this Excel file. Using the information from this worksheet, prepare the cash flow statement on the next worksheet. |
| Skylar Enterprises, Inc.
Comparative Balance Sheets |
| Assets | | 12/31/12 | | 1/1/12 | | Difference |
| Cash | | $73,000 | | $22,000 | | $51,000 |
| Accounts receivable | | $85,000 | | $76,000 | | $9,000 |
| Inventory | | $170,000 | | $189,000 | | $19,000 |
| Land | | $75,000 | | $100,000 | | $25,000 |
| Equipment | | $260,000 | | $200,000 | | $60,000 |
| Accum. Depreciation - Equipment | | -$66,000 | | -$32,000 | | $34,000 |
| Total | | $597,000 | | $555,000 |
| Liabilities and Equities |
| Accounts payable | | $39,000 | | $47,000 | | $8,000 |
| Bonds payable | | $150,000 | | $200,000 | | $50,000 |
| Common stock | | $216,000 | | $174,000 | | $42,000 |
| Retained earnings | | $192,000 | | $134,000 | | $58,000 |
| Total | | $597,000 | | $555,000 |
| Additional Information:
1. Net income for 2012 was $103,000.
2. Cash dividends of $45,000 were paid.
3. Bonds payable amounting to $55,000 were redeemed.
4. Common stock was issued for $42,000 cash.
5. No equipment was sold during 2012.
6. Land was sold at cost during 2012. |
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assignment3part2.xls
