The writer is very fast, professional and responded to the review request fast also. Thank you.
You asked:”PROBLEM # 2Condensed financial data of Fulton Corp. for 2008 and 2007 are presented below.FULTON CORP.COMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2008 AND 20072008 2007Cash $800 $600Investments 0 200Receivables 2,250 2,100Inventory 1,600 1,200Plant assets 1,600 1,200Accumulated depreciation (600) (455)$5,650 $4,845Accounts payable $750 $1,200Accrued liabilities 330 520Bonds payable 800 1,000Capital stock 1,500 1,400Retained earnings 2,270 725$5,650 $4,845FULTON COMPANYINCOME STATEMENTFOR THE YEAR ENDED DECEMBER 31, 2008Sales $15,200Cost of goods sold 10,400Gross profit 4,800Selling and administrative expenses 1,205Income from operations 3,595Other revenues and gainsLoss on sale of investments _ 50Income before income tax 3,545Income tax expense 1,400Net income 2,145Cash dividends 600Income retained in business $1,545Additional information:During the year, $100 of common stock was issued in exchange for land. No plant assets were sold in 2008.InstructionsPrepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.)
Condensed financial data of Fulton Corp. for 2008 and 2007 are presented below.FULTON CORP.COMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2008 AND 2007 CashInvestmentsReceivablesInventoryPlant…
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more