Balance Sheet, Net Income, and Cash Flows Financial information related to Abby's Interiors for October and November of 20Y6 is as follows: October 31, 20Y6 November 30, 20Y6 Notes payable $204,000 $234,000 Land 490,000 561,000 Common stock 77,000 91,000 Retained earnings ? ? Cash 58,000 173,000 a.Prepare balance sheets for Abby's Interiors as of October 31, 20Y6. Abby's Interiors Balance Sheet October 31, 20Y6 Assets Cash Land Total assets $ Liabilities Notes payable $ Stockholders' Equity Common stock $ Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ Prepare balance sheets for Abby's Interiors as of November 30, 20Y6. Abby's Interiors Balance Sheet November 30, 20Y6 Assets Cash $ Land Total assets $ Liabilities Notes payable $ Stockholders' Equity Common stock $ Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ b.Determine the amount of net income for November, assuming that dividends of $12,000 were paid.$ c.Determine the net cash flows from operating activities for November.$ d.Determine the net cash flows from investing activities for November.$ e.Determine the net cash flows from financing activities for November.$ f.Determine the net increase or decrease in cash for November.$

Balance Sheet, Net Income, and Cash Flows Financial information related to Abby's Interiors for October and November of 20Y6 is as follows: October 31, 20Y6 November 30, 20Y6 Notes payable $204,000...

Balance Sheet, Net Income, and Cash Flows

Financial information related to Abby's Interiors for October and November of 20Y6 is as follows:

a.Prepare balance sheets for Abby's Interiors as of October 31, 20Y6.

Abby's Interiors
Balance Sheet
October 31, 20Y6
Assets
Cash
Land
Total assets		$
Liabilities
Notes payable		$
Stockholders' Equity
Common stock	$
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity		$

Prepare balance sheets for Abby's Interiors as of November 30, 20Y6.

Abby's Interiors
Balance Sheet
November 30, 20Y6
Assets
Cash		$
Land
Total assets		$
Liabilities
Notes payable		$
Stockholders' Equity
Common stock	$
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity		$

b.Determine the amount of net income for November, assuming that dividends of $12,000 were paid.
$

c.Determine the net cash flows from operating activities for November.
$

d.Determine the net cash flows from investing activities for November.
$

e.Determine the net cash flows from financing activities for November.
$

f.Determine the net increase or decrease in cash for November.
$

Jun 02, 2022