Exotic adventures_statement of cash flows 32748

Exotic adventures, a chain of stores servicing the ecotourism industry, has provided you with the folloing list of accounts and balances for the year ended june 30, 2012. All amounts shown are in thousands of dollars. You have been asked by the company’s CFO to use a spreadsheet to prepare financial statements for exotic advenures, including income statement, retained earnings, and balance sheet. The CFO cant remember the AR balance. She asked you to figure it out when you prepare the balance sheet.                   FINANCIALS       Financial Statement Preparation                               Exotic Adventures                   Years Ended June 30               2012 2011     Accounts payable       $764.8 $771.8     Accounts receivable       ? 315.8     Accumulated depreciation – buildings     512.8 473.6     Accumulated depreciation – fixtures     689.6 729.0     Advances from customers     21.0 25.8     Advertising expense       271.0 256.0     Allowance for bad debts       12.6 12.6     Bad debt expense       23.0 30.0     Bonds payable (due 9/1/20)     916.6 516.6     Buildings         1,166.4 1,166.4     Cash         112.8 98.8     Common stock       470.4 422.4     Copyrights         20.8 22.4     Cost of goods sold       5,727.8 6,488.0     Depreciation expense       227.8 204.0     Discontinued operations loss (net of tax)   376.6 0.0     Dividends declared on common     201.8 180.0     Dividends declared on preferred     21.2 21.2     Fixtures         1,789.4 1,737.0     Gain on the sale of old fixtures     108.8 0.0     Goodwill         106.8 113.4     Income tax expense       280.2 40.0     Income tax payable       75.0 100.0     Interest expense       77.6 70.0     Interest payable       14.2 9.4     Inventories         690.2 510.2     Land         201.8 201.8     Long-term notes payable     99.4 121.6     Other operating expenses     691.2 1,000.0     Paid in capital in excess of par     361.4 333.4     Preferred stock       265.8 265.8     Prepaid advertising       65.6 84.2     Rent expense       0.0 650.0     Retained earnings (beginning of year)   613.0 538.2     Salaries expense       1,246.2 1,428.0     Salaries payable       121.2 111.4     Sales         9,173.2 10,766.0     Short-term investments       267.8 56.0     Short-term notes payable     9.4 27.8     Supplies expense       256.4 324.0     Treasury stock (at cost)       228.2 228.2

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