Chapter 15 Self-Study Questions

2.$3,655,712 = $2,721,066 + owners' equity

$3,655,712 – $2,721,066 = Owners' equity = $934,646

4.Profit and loss statement
Operating income
 Sales and operating income0
 Cost of goods sold0
Net operating income (loss)0
Operating expenses
 Selling expenses0
 General and administrative expenses0
 Research and development0
Investment-related expenses
 Interest expense0
 Investment expense0
 Depreciation0
 Net earnings before income taxes (loss)0
Income taxes
 Federal, state, and local income taxes0
 Net earnings after taxes (loss)0

Cash-flow statement

Cash from operating activities
 Net earnings0
 Depreciation0
 Changes in accounts receivable0
 Changes in accounts payable0
 Changes in inventory0
Net cash from operating activities0
Cash ...

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