Business
Business, 25.12.2020 18:30, ShadowPlayer3325

Condensed financial data of Windsor Company for 2017 and 2016 are presented below. WINDSOR COMPANYCOMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2017 AND 2016 2017 2016Cash $1,770 $1,170Receivables 1,790 1,320Inventory 1,610 1,940Plant assets 1,910 1,680Accumulated depreciation (1,200) (1,190 )Long-term investments (held-to-maturity) 1,300 1,420 $7,180 $6,340Accounts payable $1,210 $910Accrued liabilities 200 240Bonds payable 1,370 1,560Common stock 1,880 1,740Retained earnings 2,520 1,890 $7,180 $6,340WINDSOR COMPANYINCOME STATEMENTFOR THE YEAR ENDED DECEMBER 31, 2017Sales revenue $7,010Cost of goods sold 4,730Gross margin 2,280Selling and administrative expenses 930Income from operations 1,350Other revenues and gains Gain on sale of investments 80Income before tax 1,430Income tax expense 540Net income 890Cash dividends 260Income retained in business $630Additional information:During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2017.Prepare a statement of cash flows using the indirect method.

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Condensed financial data of Windsor Company for 2017 and 2016 are presented below. WINDSOR COMPANYCO...

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