ANYA FORGER CORPORATION ANYA FORGER CORPORATION

COMPARATIVE BALANCE SHEET INCOME STATEMENT

12/31/22 12/31/21 FOR THE YEAR ENDED 12/31/2022
Cash 530,000 501,000
Accounts Receivable 20,000 50,000 Sales Revenue 300,000
Inventory 50,000 10,000 Cost of Goods Sold 50,000
Property, Plant & Equipment 500,000 200,000 Wages Expenses 140,000
Accumulated Depreciation -85,000 -25,000 Depreciation Expense 60,000
Total Assets 1,015,000 736,000 Interest Expense 10,000
Income Tax Expense 8,000
Accounts Payable 30,000 10,000 Net Income 32,000
Wages Payable 30,000 10,000
Interest Payable 1,000 3,000
Income Tax Payable 0 1,000
Unearned Revenue 110,000 0
Notes Payable 200,000 200,000
Common Stock 600,000 500,000
Retained Earnings 44,000 12,000
Total Liabilities and Equity 1,015,000 736,000

AYA FORGER CORPORATION

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 12/31/2022

Cash flows from operating activities:

Cash Receipts:
Cash Received from Customers 440,000
Cash Payments
To suppliers 70,000
To employees 120,000
For interest 12,000
For income taxes 9,000
Net cash provided by operating activities 229,000
Cash flow from investing activities:
Purchase of PPE -300,000
Net cash used by investing activities -300,000
Cash flow from financing activities:
Issuance of Common Stock 100,000
Net cash provided by financing activities 100,000

Net increase in cash 29,000

Cash, January 1, 2022 501,000
Cash, December 31, 2022 530,000
SOLUTIONS:

Sales Revenue 300,000

(Add) Decrease in A/R 30,000
(Less) Increase in A/R
(Add) Increase in Unearned Revenue 110,000
(Less) Decrease in Unearned Revenue
Cash Received from Customers 440,000

Cost of Goods Sold 50,000

(Add) Increase in Inventory 40,000
(Less) Decrease in Inventory
(Add) Decrease in A/P
(Less) Increase in A/P 20,000
Cash Paid to Suppliers 70,000

Wages Expense 140,000

(Add) Decrease in Wages Payable
(Less) Increase in Wages Payable 20,000
Cash Paid to Employees 120,000

Interest Expense 10,000

(Add) Decrease in Interest Payable 2,000
(Less) Increase in Interest Payable
Cash Paid for Interest 12,000

Income Tax expense 8,000

(Add) Decrease in Income Tax Payable 1,000
(Less) Increase in Income Tax Payable
Cash Paid for Income Taxes 9,000