Please Do not Give image format RevenuesMETAGROBOLIZE INDUSTRIESIncome StatementFor the Year Ended December 31, 2824(s in thousands)Sales revenueGain on sale of landExpensesCost of goods soldDepreciation expense-buildingDepreciation expense-equipmentLoss on sale of equipmentAmortization of patentOperating expensesNet income$ 3,06170$96025From customers384Additional information from the accounting recordsa. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2024.b. During 2024, equipment with a cost of $390,000 (90% depreciated) was so05.000 for stock dividends and cash dividends,c. The statement of shareholders' equity reveals reductions of $190,000 andrespectively.Cash outflows:20300600Required:Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2024. Present cash flows from operatingactivities by the direct method.To suppliers of goodsFor operating expensesNote: Enter your answers in thousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with aminus sign.Show Transcribed TextCash flows from operating activities:Cash inflows:Sale of landSale of equipment$3,1312,289$ 842Net cash flows from operating activitiesCash flows from investing activities:Purchase of equipment($ in thousands)Net cash flows from investing activitiesCash flows from financing activities:Payment on lease liabilityPayment of dividendsNet cash flows from financing activities$000 Comparative balance sheets for 2024 and 2023 and a statement of income for 2024 are given below for Metagrobolize IndustriesAdditional information from the accounting records of Metagrobolize also is provided.AssetsCashMETAGROBOLIZE INDUSTRIESComparative Balance Sheets:December 31, 2024 and 2023.($ in thousands)Accounts receivableInventory.LandBuildingLess: Accumulated depreciationEquipmentLess: Accumulated depreciationPatentLiabilitiesAccounts payableAccrued liabilitiesLease liability-landShareholders' Equity.Common stockPaid-in capital-excess of parRetained earnings2024$ 460510660700800(300)2,900(493)1,800$ 7,037$ 7602301302,6206002,697$ 7,0372023$ 190270390605800(275)2,630(460)2,100$ 6,250$ 56021002,5005302,450$ 6,250

Cashflow statement is part of financial statement prepared by the organizations. There are 2 methods…

Revenues METAGROBOLIZE INDUSTRIES Incone Statenent Expenses For the Year Ended December 31, 2824 (s in thousands) Sales revenue Gain on sale of land Cost of goods sold Depreciation expense-building Depreciation expense-equipment Less on sale of equipment Amortization of patent Operating expenses Net income $ 3,061 70 $ 960 25 384 20 300 600 $ 3,131 2,209 $ 842 Additional information from the accounting records: a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2024. b. During 2024, equipment with a cost of $390,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $190,000 and $405,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2024. Present cash flows from operating activities by the direct method. Note: Enter your answers in thousands (.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign

Revenues METAGROBOLIZE INDUSTRIES Incone Statenent Expenses For the Year Ended December 31, 2824 (s in thousands) Sales revenue Gain on sale of land Cost of goods sold Depreciation expense-building Depreciation expense-equipment Less on sale of equipment Amortization of patent Operating expenses Net income $ 3,061 70 $ 960 25 384 20 300 600 $ 3,131 2,209 $ 842 Additional information from the accounting records: a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2024. b. During 2024, equipment with a cost of $390,000 (90% depreciated) was sold. c. The statement of shareholders' equity reveals reductions of $190,000 and $405,000 for stock dividends and cash dividends, respectively. Required: Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2024. Present cash flows from operating activities by the direct method. Note: Enter your answers in thousands (.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 32BEB

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Comparative balance sheets for 2021 and 2020 and a statement of income for 2021 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided. METAGROBOLIZE INDUSTRIESComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands) 2021 2020 Assets Cash $ 580 $ 375 Accounts receivable 600 450 Inventory 900 525 Land 675 600 Building 900 900 Less: Accumulated depreciation (300 ) (270 ) Equipment 2,850 2,250 Less: Accumulated depreciation (525 ) (480 ) Patent 1,200 1,500 $ 6,880 $ 5,850 Liabilities Accounts payable $ 750 $ 450 Accrued liabilities 300 225 Lease liability—land 130 0 Shareholders' Equity Common stock 3,150 3,000 Paid-in capital—excess of par 750 675…
Comparative balance sheets for 2024 and 2023 and a statement of income for 2024 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided. METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2024 and 2023 ($ in thousands) 2024 2023 Assets Cash $ 450 $ 160 Accounts receivable 490 260 Inventory 640 385 Land 650 590 Building 800 800 Less: Accumulated depreciation (250) (230) Equipment 2,850 2,570 Less: Accumulated depreciation (472) (440) Patent 1,700 1,950 $ 6,858 $ 6,045 Liabilities Accounts payable $ 740 $ 440 Accrued liabilities 220 155 Lease liability—land 130 0 Shareholders' Equity Common stock 2,600 2,500 Paid-in capital—excess of par 600 515 Retained earnings 2,568 2,435 $ 6,858 $ 6,045 METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2024 ($ in thousands) Revenues Sales revenue $…
Comparative balance sheets for 2024 and 2023, a statement of income for 2024, and additional information from the accounting records of Red, Incorporated, are provided below: Assets RED, INCORPORATED Comparative Balance Sheets December 31, 2024 and 2023 ($ in millions) Cash Accounts receivable Prepaid insurance Inventory Buildings and equipment Less: Accumulated depreciation 2023 2024 $ 44.1 143.0 $ 164.6 94.0 5.4 298.0 436.0 (144.0) 2.4 172.0 370.0 (259.0) $ 544.0 Liabilities Accounts payable Accrued liabilities Notes payable Bonds payable Shareholders' Equity Common stock Retained earnings $ 782.5 $ 95.0 8.5 $ 106.5 100.0 130.0 15.5 0.0 0.0 400.0 49.0 $ 782.5 $ 544.0 400.0 22.0
Please input numbers in boxes below based on data provided for year 2018. Current assets - current liabilities = net working capital
Consider the following abbreviated financial statements for Parrothead Enterprises: a. b. C-1. Assets Current assets Net fixed assets Sales Costs c-2. d-1. Depreciation Interest paid d-2. PARROTHEAD ENTERPRISE 2021 Income Statement a. Owners' equity 2020 a. Owners' equity 2021 b. Change in NWC c-1. Fixed assets sold 2020 $ 1,218 4,987 c-2. Cash flow from assets d-1. Debt retired $ 15,394 7,153 1,375 396 d-2. Cash flow to creditors PARROTHEAD ENTERPRISES 2020 and 2021 Partial Balance Sheets 2021 What is owners' equity for 2020 and 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) What is the change in net working capital for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) In 2021, Parrothead Enterprises purchased $2,520 in new fixed assets. How much in fixed assets did the company sell? (Do not round intermediate calculations and round your answer to the nearest whole…
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Complete all of the following listed in the picture. Such as: General Journal General Ledaer Trial Balance Income Statement Statement of SE Balance Sheet Analysis Following an accountant format. Including: Compute the total asset turnover ratio for 2020.... Compute the net profit margin ratio for 2020...
Comparative balance sheets for 2021 and 2020 and an income statement for 2021 are provided below for Keegan Industries. Assets: Diff. 2021 2020 Cash 1,825 5,375 1,125 5,850 700 Accounts Receivable 475 Inventory 2,700 1,575 1,125 Land (includes right-of-use land) Building Less: Accumulated Depreciation 2,025 1,800 225 2,700 (900) 2,700 (810) (90) Equipment Less: Accumulated Depreciation 8,550 6,750 1,800 (135) (1,575) (1,440) 20,700 17,550 Liabilities and Equity: Accounts Payable 3,150 2,025 1,125 Lease Liability - Land Common Stock Paid-in Capital - Excess of Par Retained Earnings 450 450 9,000 9,000 2,025 2,025 6,075 4,500 1,575 20,700 17,550 Sales Revenue 7,935 Gain on Sale of Land 270 Cost of Goods Sold Depreciation Expense - Building 2,790 06 Depreciation Expense – Equipment 855 Loss on Sale of Equipment Operating Expenses 45 1,500 Net Income 2,925 Additional Information: During 2021, equipment costing $900 (80% depreciated) was sold. Required: Prepare a statement of cash flows for…
The comparative balance sheet of Best Buy for January 31, 2020 and 2019, is shown as follows (values are in millions): Best Buy Comparative Balance Sheet For January 31, 2020 and 2019 $In militans Jan 31, 2020 Jan 31, 2019 Assets Cash Accounts recelvable Inventory Investments Land Equlpment Accumulated depreciation - Equipment Total assets 2,229 S 1,980 1,149 5,174 $ 1,015 5,409 500 650 S 637 9,228 S (6,900) S 9,200 (6,690) 11,530 S 12,051 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable (operating expenses) Dividends payable Common stock 5,288 906 S 5,257 982 564 564 26 27 Pald in capital: Excess of Issue price over par - common stock Retalned earnings Total liabilities and stockholders' equlty 4,745 S 11,530 $ 5,221 12,051 Additional data obtained from an examination of the accounts in the ledger for 2020 are as follows: a. The investments were sold for $875 million cash. b. Equipment and land were acquired for cash. c. There were no disposals of…
Income statement and balance sheet data for Great Adventures, Incorporated, are provided below. GREAT ADVENTURES, INCORPORATED Income Statement For the Year Ended December 31, 2025 Net sales revenues Interest revenue Expenses: Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income Assets Current assets: Cash Accounts receivable Inventory Other current assets Long-term assets: Land Buildings Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Other current liabilities Notes payable (current) Notes payable (long-term). Stockholders' equity: Common stock Paid-in capital GREAT ADVENTURES, INCORPORATED Balance Sheets December 31, 2025 and 2024 Retained earnings Treasury stock Total liabilities and stockholders' equity $ 38,800 55,860 17,550 7,533 14,800 a. Gross profit ratio. (Hint: Use net sales revenues.) b. Return on…