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Comprehensive Problem 2 – St of Cash Flows and Ratios Algo D. Ennis Inc. Income StatementFor years ended December 31, 2017 and 2018 Sales (all on credit)Cost of goods soldGross margin Depreciation expense Other operatingexpenses Total operatingexpensesOperating income Other income(expenses) Interest expense Gain on sale ofinvestments Loss on sale of plantassets Total other income(expenses) 2018 2017$478,000 $430,000(Mflo) (E,M) 172,000 179,000 37,000 51,000Mflfl filfl 141,000 137,0003.000 gm (4.800) (3.600)5.000 3,500 (2,2 0) (2,600) (12,000) (2,700) Current assets:Cash Accounts receivable (net) InventoryPrepaid expenses Other current assets Total current assets Long-term Investments Plant assets Less: accumulateddepreciation Total plant assets Total assets Current liabilities: D. Ennis Inc.Comparative Balance SheetsDecember 31, 2018 and 20172017 Change 2018 $68,52036,00046,0001,000Lfl 152.900 78.000 305.000(77.800)227,200 4581 0 $53,700 $14,820 30,000 6,00044,000 2,0002,200 4,200230—0 E 132,000 20,900 54,000 24,000 255.000 50.000(51,000) 26.800M000 2 .20 390,000 _8.10
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