Homework answers / question archive / The comparative balance sheet of Four Seasons Enterprises Inc for December 31, 2017 and 2016, is as follows: Dec 31, 2017 Dec 31, 2016 Assets Cash S 395,000 $ 88,000 Accounts receivable (net) 225,000 242,000 Inventories 638,000 576,000 Prepaid expenses 20,500 15,000 Equipment 895,000 750,000 Accumulated depreciation-equipment (175,000) (140,000) Total assets $1,998,500 $1,531,000 Accounts payable (merchandise creditors) 5 100,000 5 92,000 Mortgage note payable 0 275,000 Common stock, 55 par 500,000 250,000 Paid-in capital: Excess of issue over par-common stock 250,000 125,000 Retained earnings 1,148,500 789,000 Total liabilities and stockholders' equity 51,998,500 $1,531,000 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2017 are as follows: A

The comparative balance sheet of Four Seasons Enterprises Inc for December 31, 2017 and 2016, is as follows: Dec 31, 2017 Dec 31, 2016 Assets Cash S 395,000 $ 88,000 Accounts receivable (net) 225,000 242,000 Inventories 638,000 576,000 Prepaid expenses 20,500 15,000 Equipment 895,000 750,000 Accumulated depreciation-equipment (175,000) (140,000) Total assets $1,998,500 $1,531,000 Accounts payable (merchandise creditors) 5 100,000 5 92,000 Mortgage note payable 0 275,000 Common stock, 55 par 500,000 250,000 Paid-in capital: Excess of issue over par-common stock 250,000 125,000 Retained earnings 1,148,500 789,000 Total liabilities and stockholders' equity 51,998,500 $1,531,000 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2017 are as follows: A

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The comparative balance sheet of Four Seasons Enterprises Inc for December 31, 2017 and 2016, is as follows: Dec 31, 2017 Dec 31, 2016 Assets Cash S 395,000 $ 88,000 Accounts receivable (net) 225,000 242,000 Inventories 638,000 576,000 Prepaid expenses 20,500 15,000 Equipment 895,000 750,000 Accumulated depreciation-equipment (175,000) (140,000) Total assets $1,998,500 $1,531,000 Accounts payable (merchandise creditors) 5 100,000 5 92,000 Mortgage note payable 0 275,000 Common stock, 55 par 500,000 250,000 Paid-in capital: Excess of issue over par-common stock 250,000 125,000 Retained earnings 1,148,500 789,000 Total liabilities and stockholders' equity 51,998,500 $1,531,000 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2017 are as follows: A. Net income, 175,000 B. Depreciation reported on the income statement, 5100,000 C. Equipment was purchased at a cost of $115,000 and fully depreciated equipment costing $30,000 was discarded, with no salvage value realized. D. The mortgage note payable was not due for five years, but the terms permitted earlier payment without penalty E 20,000 shares of common stock were issued at $25 for cash. F. Cash dividends declared and paid, 535,000 Prepare a statement of cash flows, using the indirect method