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Author Question: A security analyst obtained the following information from Austin Products financial statements: ... (Read 60 times)

C0DxHalo

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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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C0DxHalo

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Reply 2 on: Aug 7, 2023
YES! Correct, THANKS for helping me on my review


ghepp

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Reply 3 on: Yesterday
Wow, this really help

 

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