COUNTRY KETTLES, INC Balance Sheet December 31, 20 2015 2016 Assets 30,800 29,93

Question

COUNTRY KETTLES, INC Balance Sheet December 31, 20 2015 2016 Assets 30,800 29,930 Cash Accounts receivable 70,300 73,360 61,200 Inventories 63,375 Property, plant, and equipment 151,000 160,600 Less: Accumulated depreciation (46,240) (50,300) $267,060 276,965 Total assets Liabilities and Equity Accounts payable 45,300 47,430 Accrued expenses 6,680 5,940 Long-term debt 26,000 28,600 Common stock 20,000 24,400 Accumulated retained earnings 169,080 170,595 $267,060 $276,965 Total liabilities and equity Source/Use tem Cash (Click to select) Accounts receivable (Click to select) Inventories (Click to select) Property, plant, and equipment Click to select) Accounts payable (Click to select) Accrued expenses (Click to select) Long-term debt (Click to select) Common stock (Click to select) Accumulated retained earnings Click to select) Amount

Explanation / Answer

Sources and Uses of Cash for Country Kettles, Inc.

Item Source/Use Amount Cash Source $870 Accounts Receivable Use $3,060 Inventories Use $2,175 Property, Plant & Equipment Use $9,600 Accounts Payable Source $2,130 Accrued Expenses Use $740 Long-term Debt Source $2,600 Common Stock Source $4,400 Accumulated Retained Earnings Source $1,515

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