Presented below are the financial statements of Rajesh Company. - 10390

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Presented below are the financial statements of Rajesh Company.

 

 

 

RAJESH COMPANY

Comparative Balance Sheets

December 31

Assets

2012

 

2011

Cash

$35,040

 

$ 19,320

Accounts receivable

32,082

 

19,025

Merchandise inventory

26,612

 

20,870

Property, Plant and Equipment

60,241

 

77,772

Accumulated depreciation

(28,076)

 

(24,059)

     Total

$125,899

 

$112,928

 

 

 

 

Liabilities and Stockholders' Equity

 

 

Accounts payable

$ 28,703

 

$ 16,057

Income taxes payable

7,336

 

8,090

Bonds payable

27,538

 

33,574

Common stock

17,800

 

14,510

Retained earnings

44,522

 

40,697

     Total

$125,899

 

$112,928

 

 

 

RAJESH COMPANY

Income Statement

For the Year Ended December 31, 2012

Sales

 

 

$241,722

Cost of goods sold

 

 

175,724

Gross profit

 

 

65,998

Operating expenses

 

 

23,221

Income from operations

 

 

42,777

Interest expense

 

 

2,267

Income before income taxes

 

 

40,510

Income tax expense

 

 

7,553

Net income

 

 

$32,957

 

Additional data:

 

  1. Dividends declared and paid were $29,132.
  2. During the year equipment was sold for $7,712 cash. This equipment cost $17,531 originally and had a book value of $7,712 at the time of sale.
  3. All depreciation expense, $13,836, is in the selling expense category.
  4. All sales and purchases are on account.

Prepare the cash felow ?

 

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