The Comparative Balance Sheet of Barry Company for Years 1

question 143

Essay

The comparative balance sheet of Barry Company for Years 1 and 2 ended December 31 appears below in condensed form:
$\begin{array}{lrr}&\underline {\text { Year 2 }}&\underline {\text { Year 1 }}\\\text { Cash } & \$ 72,000 & \$ 42,500 \\\text { Accounts receivable net } & 61,000 & 70,200 \\\text { Inventories } & 121,000 & 105,000 \\\text { Investments } & - & 100,000 \\\text { Equipment } & 515,000 & 425,000 \\\text { Accumulated depreciation -equipment } & 153,000 & 175,000\\\\&\underline{ \$ 616,000 }&\underline{ \$ 567,700 }\\\\\\\text { Accounts payable } & \$ 59,750 & \$ 47,250 \\\text { Bonds payable } & - & 75,000 \\\text { Common stock, } \$ 20 \text { par } & 375,000 & 325,000 \\\text { Premium on common stock } & 50,000 & 25,000 \\\text { Retained earnings } &\underline{ \$ 131,250 }& \underline{95,450} \\&\underline{ \$ 616,000 }&\underline{ \$ 567,700 }\\\text { Addlitional data for the current vear are as follows:}\end{array}$ a Net income,$75,800.
b Depreciation reported on income statement,$38,000.
c Fully depreciated equipment costing $60,000 was scrapped,no salvage,and equipment was purchased for $150,000.
d Bonds payable for $75,000 were retired by payment at their face amount.
e 2,500 shares of common stock were issued at $30 for cash.
f Cash dividends declared and paid,$40,000.
g Investments of $100,000 were sold for $125,000.
Prepare a statement of cash flows using the indirect method.

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Definitions:

ADHD-HI

Attention Deficit Hyperactivity Disorder, Hyperactive-Impulsive Type, characterized by excessive restlessness, impulsive behavior, and difficulty with maintaining attention.

Lifetime Prevalence

The percentage of people within a population who have encountered a certain disorder at least once in their lifetime until the time they are evaluated.

Substance Abuse

The misuse of legal or illegal substances such as drugs or alcohol that leads to significant impairment or distress.

Eating Disorders

Mental disorders characterized by abnormal or disturbed eating habits that negatively affect a person's health and wellbeing.