Hooper co. income statement For the year ended Dec 31, 2018
Revenue from operations 90,000
Total operating income $90,000
Less: Operating expenses 26,000 Salaries 900 Provision for doubtful debts 26,900
Total operating expenses $26,900
Net operating income $63,100
Add: Non-operating income 100
Net income $63,200
Hooper company balance sheet as at Dec 31,2018
Assets
Cash 90,000
Notes receivable 20,000
Accounts receivables 12,000 Less: Provision for doubtful debts 900 11,100
Accrued interests 100
Total assets 121,200
Liabilities
Shareholder’s equity Common stock 60,000
Retained earnings Opening Add: Net income 63,200 Less: Dividend 2,000 61,200
Total stakeholders equity 121,200
Total liabilities and stakeholder’s equity 121,200
Hooper co. Cash flow statement for the year ended Dec 31,2018
Cash flow from operating activities
Inflows from customers 78,000 Outflows for expenses (26,000) Net cash-flows from investing activities $52,000
Cash flow from investing activities
Loaned to mosby co. (20,000) Net cash flow from investing activities $20,000
Cash flow from financing activities
Issue of common stock 60,000 Dividend paid (2,000) Net cash flow from financing activities $58,000
Net change in cash 90,000
Beginning cash (Add) Ending cash balance $90,000