Statement Connections 1. Use the starting balance sheet, income statement, and the list of changes to answer the question. Dansko Integrated Balance Sheet As of December 31, 2018 (amounts in...

Statement Connections
1.
Use the starting balance sheet, income statement, and the list of changes to answer the question.
    Dansko Integrated
Balance Sheet
As of December 31, 2018
(amounts in thousands)
    Cash
    29,000
    Liabilities
    33,000
    Other Assets
    26,000
    Equity
    22,000
    Total Assets
    55,000
    Total Liabilities & Equity
    55,000
    Dansko Integrated
Income Statement
January 1 to March 31, 2019
(amounts in thousands)
    Revenue
    7,100
    Expenses
    2,800
    Net Income
    4,300
Between January 1 and March 31, 2019:
1. Cash increases by $200,000
2. Other Assets decrease by $100,000
3. Paid-In Capital does not change
4. Dividends paid of $200,000
What is the value for Liabilities on March 31, 2019?
Please specify your answer in the same units as the financial statements.
2.
Use the income statement and the list of changes to answer the question.
    Siam Traders
Income Statement
January 1 to December 31, 2018
(amounts in thousands)
    Revenue
    7,800
    Cost of Goods Sold (COGS)
    1,560
    Gross Income
    6,240
    Sales, General, & Administrative Expenses (SG&A)
    780
    Depreciation Expense
    1,200
    Other Expenses
    300
    Earnings Before Interest & Taxes (EBIT)
    3,960
    Interest
    60
    Pre-Tax Income
    3,900
    Income Taxes
    1,560
    Net Income
    2,340
Between January 1 and December 31, 2018:
1. Accounts Receivable increase by $100,000
2. Accounts Payable increase by $600,000
3. Gross Property, Plant, & Equipment increase by $8,300,000
4. Long Term Debt decreases by $700,000
Assume no other changes
What is the Net Cash Flow?
Please specify your answer in the same units as the income statement.
3. Use the starting balance sheet and statement of cash flows to answer the question.
    Stuart Company
Balance Sheet
As of December 31, 2018
(amounts in thousands)
    Cash
    84,000
    Accounts Payable
    28,000
    Accounts Receivable
    47,000
    Debt
    34,000
    Inventory
    42,000
    Other Liabilities
    9,000
    Property Plant & Equipment, Gross
    243,000
    Total Liabilities
    71,000
    Accumulated Depreciation
    71,000
    Paid-In Capital
    67,000
    Property Plant & Equipment, Net
    172,000
    Retained Earnings
    235,000
    Other Assets
    28,000
    Total Equity
    302,000
    Total Assets
    373,000
    Total Liabilities & Equity
    373,000
    Stuart Company
Statement of Cash Flows
January 1 to March 31, 2019
(amounts in thousands)
    Net Income
    7,700
    Depreciation
    1,700
    Decrease (Increase) in Accounts Receivable
    300
    Decrease (Increase) in Inventory
    (800)
    Increase (Decrease) in Accounts Payable
    (900)
    Other Adjustments
    0
    Net Cash Flow from Operating Activities
    8,000
    Purchase of Property, Plant, & Equipment
    (7,500)
    Other Adjustments
    0
    Net Cash Flow from Investing Activities
    (7,500)
    Increase (Decrease) in Debt
    (600)
    Dividends
    (800)
    Other Adjustments
    0
    Net Cash Flow from Financing Activities
    (1,400)
    Net Cash Flow
    (900)
What is the value for Total Liabilities & Equity on March 31, 2019?
Please specify your answer in the same units as the financial statements.
4. Use the balance sheets and information provided about revenue and expenses to answer the question.
    Nippon Technology
Balance Sheet
As of December 31, 2018
(amounts in thousands)
    Cash
    137,000
    Accounts Payable
    20,000
    Accounts Receivable
    32,000
    Debt
    36,000
    Inventory
    51,000
    Other Liabilities
    9,000
    Property Plant & Equipment, Gross
    227,000
    Total Liabilities
    65,000
    Accumulated Depreciation
    73,000
    Paid-In Capital
    72,000
    Property Plant & Equipment, Net
    154,000
    Retained Earnings
    245,000
    Other Assets
    8,000
    Total Equity
    317,000
    Total Assets
    382,000
    Total Liabilities & Equity
    382,000
    Nippon Technology
Balance Sheet
As of March 31, 2019
(amounts in thousands)
    Cash
    140,000
    Accounts Payable
    28,000
    Accounts Receivable
    26,000
    Debt
    32,000
    Inventory
    56,000
    Other Liabilities
    8,670
    Property Plant & Equipment, Gross
    227,000
    Total Liabilities
    68,670
    Accumulated Depreciation
    73,800
    Paid-In Capital
    72,000
    Property Plant & Equipment, Net
    153,200
    Retained Earnings
    246,530
    Other Assets
    12,000
    Total Equity
    318,530
    Total Assets
    387,200
    Total Liabilities & Equity
    387,200
Revenue and expenses information from January 1 to March 31, 2019 were:
Sales Revenue of $7,900,000
COGS of 40% of Sales
Interest of $80,000
Other Expenses of $600,000
SG&A of $790,000
Tax Rate of 34%
What is the net income in the first quarter of 2019?
Please specify your answer in the same units as the balance sheets and round your answer to the nearest integer.
T Accounts:
1.
Consider the following account starting balances and transactions involving these accounts.
Use T-accounts to record the starting balances and the offsetting entries for the transactions.
The starting balance of Accounts Receivable is $3,200
The starting balance of Cash is $13,700
The starting balance of Inventory is $5,100
1. Buy $14 worth of manufacturing supplies for cash
2. Sell product for $35 in cash with historical cost of $35
3. Receive payment of $13 owed by a custome
What is the final amount in Inventory?
2
Consider the following account starting balances and transactions involving these accounts.
Use T-accounts to record the starting balances and the offsetting entries for the transactions.
The starting balance of Accounts Payable is $1,900
The starting balance of Cash is $14,100
The starting balance of Debt is $3,600
The starting balance of Inventory is $4,900
1. Bo
ow $59 from a bank
2. Pay $4 owed to a supplie
3. Buy $18 worth of manufacturing supplies on credit
What is the final amount in Accounts Payable?
3.
Consider the following account starting balances and transactions involving these accounts.
Use T-accounts to record the starting balances and the offsetting entries for the transactions.
The starting balance of Cash is $12,500
The starting balance of Inventory is $5,200
The starting balance of Retained Earnings is $23,900
1. Consume good or service and pay expense of $3 
2. Sell product for $20 in cash with historical cost of $16
3. Sell, deliver, and receive payment of $35 for service
What is the final amount in Retained Earnings?
4.
5.
    Siam Traders
Balance Sheet
As of March 11, 2019
(amounts in thousands)
    Cash
    9,100
    Accounts Payable
    1,900
    Accounts Receivable
    4,400
    Debt
    2,400
    Inventory
    4,800
    Other Liabilities
    600
    Property Plant & Equipment
    15,600
    Total Liabilities
    4,900
    Other Assets
    2,600
    Paid-In Capital
    6,900
    
    
    Retained Earnings
    24,700
    
    
    Total Equity
    31,600
    Total Assets
    36,500
    Total Liabilities & Equity
    36,500
Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a balance sheet to answer the question.
1. Purchase equipment for $43,000 in cash
2. Receive payment of $11,000 owed by a custome
3. Buy $14,000 worth of manufacturing supplies on credit
What is the final amount in Total Equity?
Please specify your answer in the same units as the balance sheet.
6.
    Nippon Technology
Balance Sheet
As of March 11, 2019
(amounts in thousands)
    Cash
    13,700
    Accounts Payable
    2,000
    Accounts Receivable
    3,200
    Debt
    3,600
    Inventory
    5,100
    Other Liabilities
    900
    Property Plant & Equipment
    15,400
    Total Liabilities
    6,500
    Other Assets
    800
    Paid-In Capital
    7,200
    
    
    Retained Earnings
    24,500
    
    
    Total Equity
    31,700
    Total Assets
    38,200
    Total Liabilities & Equity
    38,200
Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a balance sheet to answer the question.
1. Receive payment of $12,000 owed by a custome
2. Purchase equipment for $45,000 in cash
3. Issue $85,000 in stock
4. Bo
ow $67,000 from a bank
5. Buy $17,000 worth of manufacturing supplies on credit
What is the final amount in Total Liabilities & Equity?
Please specify your answer in the same units as the balance sheet.
7.
    Ruston Company
Balance Sheet
As of March 11, 2019
(amounts in thousands)
    Cash
    9,000
    Accounts Payable
    1,200
    Accounts Receivable
    3,400
    Debt
    3,600
    Inventory
    5,100
    Other Liabilities
    2,100
    Property Plant & Equipment
    17,500
    Total Liabilities
    6,900
    Other Assets
    600
    Paid-In Capital
    5,900
    
    
    Retained Earnings
    22,800
    
    
    Total Equity
    28,700
    Total Assets
    35,600
    Total Liabilities & Equity
    35,600
Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a balance sheet to answer the question.
1. Sell product for $30,000 in cash with historical cost of $24,000
2. Sell, deliver, and receive payment of $25,000 for service
3. Consume good or service and pay expense of $1,000
What is the final amount in Total Assets?
Please specify your answer in the same units as the balance sheet.