Question

Bizzy Buzzy Bee's Honey Pot Vending Company and Hive Restoration Services Inc.							Bizzy Buzzy Bee's Honey Pot Vending Company and Hive Restoration Services Inc.					Bizzy Buzzy Bee's Honey Pot Vending Company and Hive Restoration Services Inc.
Income Statement							Balance Sheet					Statement of Cash Flows
For Years Ended 12.31.12 and 12.31.13							As Of 12.31.12 and 12.31.13					For Year Ended 12.31.13
				12.31.13	12.31.12				12.31.13	12.31.12		Cash Flow From Operating Activities
Sales Revenue				1,300,000	1,200,000		Current Assets
Cost of Goods Sold				900,000	755,000		Cash		550,000	520,000		Adjustments
Gross Profit				400,000	445,000		Accounts Receivable		70,000	95,000
							Inventory		75,000	50,000		Current Assets
Salaries Expense				150,000	90,000		Prepaid Insurance		25,000	60,000
Insurance Expense				35,000	15,000		Total Current Assets		720,000	725,000
Depreciation Expense - Machinery				15,000	5,000		Property Plant & Equipment
Operating Income				200,000	335,000		Machinery		69,000	69,000		Current Liabilities
							Accumulated Depreciation - Machinery		30,000	15,000
Interest Expense				4,000	26,000		Land		258,000	300,000
Net Income				196,000	309,000		Total Net Property Plant & Equipment		297,000	354,000		Net Cash Flow From Operations		241,000
							Total Assets		1,017,000	1,079,000
												Cash Flow From Investing Activities
Bizzy Buzzy Bee's Honey Pot Vending Company and Hive Restoration Services Inc.							Current Liabilities
Statement of Retained Earnings							Accounts Payable		70,000	40,000
For Years Ended 12.31.12 and 12.31.13							Salaries Payable		15,000	50,000		Net Cash From Investing Activities
							Total Current Liabilities		85,000	90,000
				12.31.13	12.31.12		Non-Current Liabilities					Cash Flow From Financing Activities
Retained Earnings				279,000	40,000		Notes Payable		50,000	360,000
Net Income				196,000	309,000		Total Non-Current Liabilities		50,000	360,000
Dividends				203,000	70,000		Total Liabilities		135,000	450,000
Retained Earnings - Ending				272,000	279,000							Net Cash Flow From Financing Activities
							Stockholders' Equity
							Common Stock		340,000	250,000		Total Net Cash Flow
							Paid in Capital in Excess of Par - CS		270,000	100,000		Cash - BB
							Retained Earnings - Ending		272,000	279,000		Cash - EB
							Total Stockholders' Equity		882,000	629,000
							Total Liabilities & Stockholders' Equity		1,017,000	1,079,000

Answer 1

Bizzy Buzzy Bee's Honey Pot Vending Company and Hive Restoration Services Inc.
Statement of Cash Flows
For Year Ended 12.31.13
Cash Flow From Operating Activities
Net Income	196,000
Adjustments
Depreciation Expense	15,000
Current Assets
Decrease in Accounts Receivable	25,000
Increase in Inventory	(25,000)
Decrease in Prepaid Insurance	35,000
Current Liabilities
Increase in Accounts Payable	30,000
Decrease in Salaries Payable	(35,000)
Net Cash Flow From Operations		241,000
Cash Flow From Investing Activities
Proceeds from sale of Land	42,000
Net Cash From Investing Activities		42,000
Cash Flow From Financing Activities
Repayment of Notes Payable	(310,000)
Issue of Common Stock	260,000
Payment of Dividend	(203,000)
Net Cash Flow From Financing Activities		(253,000)
Total Net Cash Flow		30,000
Cash - BB		520,000
Cash - EB		550,000