Balance Sheet and Financial Analysis
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Assets
Cash and cash equivalents $90
AR $175
Plant & equipment $216
$481
Liabilities
AP $198
Debt $122
Declared dividends $87
$407
Owner's Equity
Stock $58
Retained Earnings $16
$74
Total liabilities and owner's equity $481
Xenon is buying $24,000 in new computer hardware. Assume that all other unspecified accounting categories are zero.
*Show the profit and loss statement, cash flow statement and ending balance sheet, assuming that Xenon buys the computer equipment using a loan or the full amount of the purchase. Use the ending balance from above as the starting balance sheet for this question.
Assume that all other unspecified accounting categories are zero, and assume that Xenon Software had the following financial results from using the equipment over the reporting period:
Sales and operating income = $240K
COGS = $63K
Selling expenses = $47K
General and admin expenses $44K
R&D $81K
Depreciation $7K
Federal, state and local taxes $29K
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