Le Tssam Tomer — 202442424 - ENMG-602 4 wastens tovtion-—avestions, exERcists, PROBLEMS, AND CASES TO ACCOMPAHY FINANCIAL ACCOUMTING Laall corp. Income Statement or the Yer Ended December 31, 2003 Netsaes si 000 Contot nl 30.000 ato els zolnana Gros poi ) Operating epeses (2,4993 000) Operating nee (hhc pene create 200m) Inert epee Ince ef 40,D00 Income wxespene ‘Net leome 5550, 010 Laval rp eee Shes seer 31 200 snd 2002 assets 2003 22 tetas 30,000 <,000 teens crest bio abn trees sino rept epens oan0 0200 Pastesetnae soo a00 0.000 i lng tron 098 1 Toate By#ed,000 530,000 [AABILITIES ano STOCKHOLDERS’ xaUITY 2008 2008 Accounts nd notes payable 170000 750900 “accred expenses ‘og00 60,000 Income ter payable 16.000 120000 Long-term labile 200 00,000 Contributed cpital 500.000 Retained esenings ° 200.000 “Tol lables sd stocboldes' equity Ess0000 7160, C0 Levate corp. Statement of ash Flows Tor the Yor Ended December 3, 2003, Cash Bow fom Operating Aces: anh ace om ctomen noe candeue (432000) ‘Net ash provide by operating at Cath Flow fom Investing Actes: apap pt 5 1s00) ah pido rh te long erat oo) Nand droge, sis (Continued) iCHAPIEN Y unTaopuction To Fimawciat accouNTING + 5) Cash Flow fiom Financing Activites: Cash recived from stance of sock 250,000 ‘Cash pid fr dividends (420,000) (Cash pid epayment of lng-term debt 100,000) [Net ash used for inancing setts ‘000 Nek chmgetn cash 50; 000, Cah andcaveqelenst iy 4 (Cash and cath equivalents at December 31 30,000 3 Complete Lavalles financial statements for 2003 by filing in the blanks with the ap- propriate aroun, 1. Brie describe the purpose of each of Laval statements that you completed © Describe the relationship between the balance sheet snd the income statement. a Describe the relationship between the balance shet and th statement of cashflows. (Compare and contrast the income statement and the statement of eash lows, De- scribe their roltonship ta each other. L Cases and Projects ci-1 ci-2 Explore the Web ‘Many but not all, companies make thelr financial eports accessible on the Web, Often ‘hese reports can be found trough «link called "shareholder information, oc something, similar, Selec a company, goto its We sit, and find its inancial reports, Then view the financial reports to answer te following questions. (Do not printout the enie docu ment) ‘What isthe name ofthe company? 1 Who arethe eompanysaudicorst Are there any unasal sistent inthe sudtor’ sport Whats the dt ofthe most recent balance ses? ‘What period is covered by the most cent income statment? ‘What period is covered by the most recent statement of eth owe? 4 Whatare the sompuny’s major reported assets? 1h What are the msjor reported lbs? ‘Whotare the smsjor ours of een? 5. What are the major expense? ‘What wos the amount ofthe company’s total asst atthe begining ofthe yer? 1. What was the amount ofthe tol assets atthe endothe yt sm. What was the amount of the sverage toa iss? i, What was the net income forthe yea? EDGAR in electronic formal. These reports ate available tthe public through the SECs