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Author Question: A security analyst obtained the following information from Austin Products financial statements: ... (Read 13 times)

C0DxHalo

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on: Aug 7, 2023
A security analyst obtained the following information from Austin Products’ financial statements:

– Retained earnings at the end of 2019 were $900,000, but retained earnings at the end of 2020 had declined to $510,000
– The company does not pay dividends.
– The company’s depreciation expense is its only non-cash expense; it has no amortization
           charges.
– The company has no non-cash revenues.
– The company’s net cash flow for 2020 was $180,000.

On the basis of this information, which of the following statements is correct?


◦

The company’sdepreciation expense in 2020 was less than $180,000.


◦

The company had negative net income in 2020.


◦

The company had positive net income in 2020, and its income was greater than its 2019 income.


◦

The company’s cash on the balance sheet at the end of 2019 must be higher than the cash it had at the end of 2020.

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Marked as best answer by C0DxHalo on Aug 7, 2023

ealonif

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Reply #1 on: Aug 7, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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C0DxHalo

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Reply 2 on: Aug 7, 2023
Thanks for the timely response, appreciate it

bbburns21

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Reply 3 on: Yesterday
:D TYSM

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