105.Determine the missing amounts for each independent case below. Assume the amounts shown are at the end of the company's first year of operation.
Company NameTotal RevenueTotal AssetsTotal ExpensesTotal LiabilitiesNet Income (Loss) Stockholders' Equity
Wiseman $190,000$70,000 ($30,000)$100,000
106.Gail's Greenhouse, Inc., a small retail store that sells houseplants, started business on January 1, 2016. At the end of January 2016, the following information was available:
Sales of plants for cash$75,000
Sales of plants for credit (not yet collected) 15,000
Cost of plants which were sold and paid for during January 45,000
Expenses during January incurred, and paid for, during January unless otherwise noted:
Office supplies (all used) 150
Rent on the store for January, 2016 (will not be paid until February, 2016) 1,000
A. Using the above information, prepare the income statement for Gail's Greenhouse for the month ended January 31, 2016.
B. What is the amount of cash flows provided by operating activities to be presented on the statement of cash flows?
107.Indicate on which financial statement you would expect to find each of the following. If an item can be found on more than one statement, list each statement.
Example: CashBalance Sheet
Cost of goods sold___________
Income tax expense___________
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