Summarized versions of Nachos Corporation's financial statements for two recent years are as follows.
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Requirement
1. Complete NachosCorporation's financial statements by determining the missing amounts denoted by the letters. If necessary, round numbers up to the nearest whole dollar. (Round the tax calculation to the nearest thousand dollars. Use parentheses or a minus sign when entering a net decrease in cash)
2022
2021
(in Thousands)
Income Statement
Revenues
15,250
Cost of goods sold
11,030
1,220
Other expenses
1,200
Income before income taxes
1,540
1,800
Income taxes (35%)
630
Net income
Statement of Retained Earnings
Beginning balance
$\s2,770
Net income
Dividends
(78)
(150)
Ending balance
Balance Sheet
Assets
Cash
Property, plant, and equipment
1,537
1,366
Other assets
11,639
Total assets
14,350
Liabilities
Current liabilities
$\s5,650
Long-term debt
4,450
3,390
Other liabilities
1,005
150
Total liabilities
9,150
Stockholders' equity:
Common stock
$\s250
$\s250
Retained earnings
120
Other stockholders' equity
130
160
Total stockholders' equity
4,160
Total liabilities and stockholders' equity
Cash Flow Statement
Net cash provided by operating activities
$\s1,000
Net cash used in investing activities
(230)
(325)
Net cash used in financing activities
(510)
(530)
Increase (decrease) in cash
Cash at beginning of year
1,200
Cash at end of year
