| None of these answers are correct. Question 45: ABC Company reports the following information on its 2017 end-of-year financial statements. Assume any increases/decreases to the Balance Sheet accounts were a result of cash transactions. What is ABC Companys Cash flow from investing activities? | | | | | | | | ABC Company | | | | | Balance Sheets | | | | | On December 31, 20XX | | | | | | | | | | | | | | | | | | | Assets | | 2017 | | 2016 | | | | | | | | | | Cash and Cash Equivalents | | $84,000 | | $48,700 | | | Accounts Receivable | | 53,600 | | 50,000 | | | Inventory | | 39,600 | | 39,000 | | | Prepaid Expenses | | 5,500 | | 15,000 | | | Equipment | | 206,000 | | 200,000 | | | Accumulated Depreciation | | -126,700 | | -117,700 | | | Total assets | | $262,000 | | $235,000 | | | | | | | | | | | | | | | | | | | 2017 | | 2016 | | | Liabilities and Stockholders' Equity | | | | | | | | | | | | | | Accounts Payable | | $48,000 | | $49,000 | | | Accrued Liabilities | | 44,000 | | 42,000 | | | Common Stock | | 10,000 | | 9,000 | | | Retained Earnings | | 160,000 | | 135,000 | | | Total Liabilities and Stockholders' | | | | | | | Equity | | $262,000 | | $235,000 | | | | | | | | | | | | | | | | | | | | | ABC Company | | | | | | | Income Statement | | | | | | For the Period Ended December 31, 2017 | | | | | | | | | | | | | | | | | | | | Sales Revenue | | | $636,000 | | | | Cost of Goods Sold | | | 240,000 | | | | Gross Profit | | | $396,000 | | | | Office Expenses | | | 242,000 | | | | Depreciation Expense | | | 9,000 | | | | Income from Operations | | 145,000 | | | | Interest Expense | | | 0 | | | | Income before Income Taxes | | 145,000 | | | | Income Tax Expense | | | 120,000 | | | | Net Income | | | 25,000 | | | | None of these answers are correct. | |
