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Unit 2: Understanding Corporate Financial Statements

Other Assets, LT 223 223 – Notes
Total Assets $2,169 $2,044

Liabilities and Equity 2007 2006 +/– S/U
Notes Payable $290 $295 – U
Acct. Payable 94 94 –
Accrued Taxes 16 16 –
Other Accrued Liab. 100 100 –
Current Liab. $500 $505 N/A
Long-Term Debt 530 453 + S
Shareholders’ Equity
Com. Stock ($1 par) 200 200 –
Add Pd in Capital 729 729 –
Retained Earnings 210 157 + S
Total Equity $1,139 $1086 N/A
Total Liab/Equity $2,169 $2,044

Liabilities and Equity 2007 2006 +/– S/U
Notes Payable $290 $295 $5 U
Acct. Payable 94 94 –
Accrued Taxes 16 16 –
Other Accrued Liab. 100 100 –
Current Liab. $500 $505 N/A
Long-Term Debt 530 453 77 S
Shareholders’ Equity
Com. Stock ($1 par) 200 200 –
Add Pd in Capital 729 729 –
Retained Earnings 210 157 53 S
Total Equity $1,139 $1086 N/A
Total Liab/Equity $2,169 $2,044

Fund Flow Statement
Particular Amount Amount
Sources
Increase, Retained Earnings $ 53
Decrease, Accounts Receivable 16
Increase, Long-Term Debt 77
Decrease, Cash + Cash Equivalents 10 $156
USES
Increase, Inventories $80
Increase, Accum Tax Prepay 1
Decrease, Notes Payable 5
Increase, Net Fixed Assets 70
$156

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