Trial Balance Income Statement

Accounts
Debit Credit Debit
Cash € 197000
Sales Revenue € 7900000
Trading Securities (at cost, €145,000) € 153000
Cost of Goods Sold € 4800000 € 4800000
Long-term Investments in Bonds € 299000
Long-term Investments in Shares € 277000
Notes Payable (short-term) € 90000
Accounts Payable € 455000
Selling Expenses € 2000000 € 2000000
Investment Revenue € 63000
Land € 260000
Buildings € 1040000
Dividends Payable € 136000
Accrued Liabilities € 96000
Accounts Receivable € 435000
Accumulated Depreciation—Buildings € 352000
Allowance for Doubtful Accounts € 25000
Administrative Expenses € 900000 € 900000
Interest Expense € 211000 € 211000
Inventory € 597000
Pension Liability (long-term) € 80000
Notes Payable (long-term) € 900000
Equipment € 600000
Bonds Payable € 1000000
Accumulated Depreciation—Equipment € 60000
Franchises € 160000
Share Capital—Ordinary (€5 par) € 1000000
Treasury Shares € 191000
Patents € 195000
Retained Earnings € 78000
Accumulated Other Comprehensive Income € 80000
Total € 12315000 € 12315000 € 7911000
€ 132000
€ 8043000
Income Statement Financial Position
Credit Debit Credit
€ 197000
€ 7900000
€ 153000

€ 299000
€ 277000
€ 90000
€ 455000

€ 63000
€ 260000
€ 1040000
€ 136000
€ 96000
€ 435000
€ 352000
€ 25000

€ 597000
€ 80000
€ 900000
€ 600000
€ 1000000
€ 60000
€ 160000
€ 1000000
€ 191000 132000
€ 195000
€ 78000 32000
€ 80000
€ 8043000 € 4404000 € 4272000
€ 132000
€ 8043000 € 4404000 € 4404000
 Operating Activities
Net Income € 34000
Add: Depreciation € 6000
Accounts Payable € 5000
Less: Accounts Receivable -€ 3000 € 8000
Cash Flows From Operating Activities € 42000
Investing Activities
Purchase of Equipment -€ 17000
Cash Flow From Investinng Activities -€ 17000
Financing Activities
Issue of Common Stock € 20000
Less: Dividens Paid -€ 13000
Cash Flows From Financing Activities € 7000
Total Cash € 32000