1. The following information was made available from the income statement and balance sheet of Lauren Company:
Complete the cash flow from operating activities section for Lauren Company using the direct method for the year ended December 31, 2010.
2. Given the following balance sheet, complete a horizontal analysis. Compute the percentage to the nearest tenth of a percent.
|
Jill’s Bikes Comparative Balance Sheet For Years Ended December 31, 2011 and 2010 |
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|
(in thousands |
2011 |
2010 |
Difference |
Percentage |
|
Assets |
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|
Current Assets |
||||
|
Cash and Equivalents |
$72 |
$94 |
||
|
Accounts Receivable, net |
122 |
104 |
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|
Inventory |
288 |
232 |
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|
Total Current Assets |
482 |
430 |
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|
Property, plant and Equipment |
638 |
358 |
||
|
Total Assets |
$1,120 |
$ 788 |
||
|
Liabilities |
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|
Current Liabilities |
||||
|
Accounts Payable |
242 |
148 |
||
|
Accrued Liabilities |
48 |
66 |
||
|
Total Current Liabilities |
290 |
214 |
||
|
Long-Term Liabilities |
346 |
208 |
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|
Total Liabilities |
636 |
422 |
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|
Stockholders’ Equity |
||||
|
Common Stock |
70 |
60 |
||
|
Retained Earnings |
414 |
306 |
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|
Total Stockholders’ Equity |
484 |
366 |
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|
Total Liabilities and Stockholders’ Equity |
$1,120 |
$788 |
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