Question

Condensed financial data of Monopoly Corporation appear below:


Monopoly Corporation Comparative Balance Sheet December 31
Current Year Prior Year
Assets
Cash $44,000 $28,000
Accounts receivable A 32,000
Inventories B 70,000
Prepaid rent 2,500 2,000
Property, plant, and equipment 224,000 200,000
Accumulated depreciation (55,000) (40,000)
Total assets $341,500 $292,000
Liabilities and Stockholders Equity
Accounts payable $38,000 $34,000
Accrued liabilities 10,000 12,000
Notes payable (long-term) 130,000 150,000
Contributed capital 50,000 25,000
Retained earnings 113,500 71,000
Total liabilities and stockholders equity $341,500 $292,000
Monopoly Corporation Income Statement Year Ended December 31
Sales $477,500
Expenses
Cost of goods sold $290,000
Selling, general, and administrative expenses 94,000
Depreciation expense C
Interest expense 9,000
Income taxes D 425,000
Net income $ 52,500


Monopoly Corporation Cash Flow Statement Year End December 31
Cash Flows from Operating Activities
Net income $52,500
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation 15,000
Changes in current assets and current liabilities:
Accounts Receivable (4,000)
Inventories (20,000)
Prepaid Expenses E
Accounts Payable 4,000
Accrued Liabilities F
Net cash provided by (used in) operating activities G
Cash flows from investing activities
Purchase of property, plant, and equipment (24,000)
Net cash provided by (used in) investing activities (24,000)
Financing activities
Additional capital contributed by stockholders H
Payments on long-term debt (20,000)
Payment of cash dividends I
Net cash provided by (used in) financing activities J
Increase in cash and cash equivalents 16,000
Cash and cash equivalents, beginning of period 28,000
Cash and cash equivalents, end of period $44,000

A cash dividend was declared and paid in full to stockholders during the year.

Required:

Solve for the missing numbers and summarize your answers in the table below. Be sure to indicate in parentheses ( ) if the missing number is negative (that is, a cash outflow).


A C E G I
B D F H J

Answer

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