Alaskan Srawberry Corp as of December 31 2016 based on the f

Alaskan Srawberry Corp. as of December 31, 2016, based on the following information cash- $209.000, patents and copyrights $863,000, accounts payable- $1,090,000 (Do not round ate calculations and round your answers to the nearest whole number, e.g.32.) (Click to select) Current lablities (Click to select) Current assets Click to (Click to to select) Total assets Difficulty: 2 in

Solution

1)

2)

b) Operating cash flow = EBIT + Depreciation = $41,200 + $490,400 = $531,600

Balance Sheet

Cash	$209,000	Accounts payable	$280,000
Inventory	$554,000	Notes payable	$173,000
Accounts receivable	$269,000	Current liabilities	$453,000
Current assets	$1,032,000	Long-term debt	$1,090,000
		Total liabilities	$1,543,000
Tangible net fixed assets	$5,260,000
Intangible assets or patents and copyrights	$863,000	Common stock (balancing figure)	$866,000
		Accumulated retained earnings	$4,746,000
Total Assets	$7,155,000	Total liabilities and owners\' equity (=total assets)	$7,155,000