Sean is starting his first job and wants to move into a place of his own. He has found a 2-bedroom apartment within walking distance of work, where the rent is $800 per month; he would need to pay the first and last-month's rent ($1600) when he signs the lease. He has also found a 2-bedroom house in a neighborhood a little farther away from work. The house can be bought for $90,000, and he needs a down payment of $2,000. Monthly mortgage payments will be $900, including taxes and insurance. Sean has $3,000 in savings. He is making enough money to cover the monthly costs for the apartment or the house, but he really could use a new car, especially if he has to drive to work every day. Sean does not have any pets, works a full week (but no overtime), and enjoys working outdoors. He plans to stay with this job for about three years, then look for a job in another community (he's always wanted to live out in the mountain states).

Jen heard that the bank where she kept her money was going to close for good. jen said she wasn't worried

Instructions: use the following information to construct the 2000 balance sheet and income statement for carolina business machines. round all numbers to the nearest whole dollar. all numbers are in thousands of dollars. be sure to read the whole problem before you jump in and get started. at the end of 1999 the firm had $43,000 in gross fixed assets. in 2000 they purchased an additional $14,000 of fixed asset equipment. accumulated depreciation at the end of 1999 was $21,000. the depreciation expense in 2000 is $4,620. at the end of 2000 the firm had $3,000 in cash and $3,000 in accounts payable. in 2000 the firm extended a total of $9,000 in credit to a number of their customers in the form of accounts receivable. the firm generated $60,000 in sales revenue in 2000. their cost of goods sold was 60 percent of sales. they also incurred salaries and wages expense of $10,000. to date the firm has $1,000 in accrued salaries and wages. they borrowed $10,000 from their local bank to finance the $15,000 in inventory they now have on hand. the firm also has $7,120 invested in marketable securities. the firm currently has $20,000 in long-term debt outstanding and paid $2,000 in interest on their outstanding debt. over the firm's life, shareholders have put up $30,000. eighty percent of the shareholder's funds are in the form of retained earnings. the par value per share of carolina business machines stock is

Cash flows during the first year of operations for the harman-kardon consulting company were as follows: cash collected from customers, $385,000; cash paid for rent, $49,000; cash paid to employees for services rendered during the year, $129,000; cash paid for utilities, $59,000. in addition, you determine that customers owed the company $69,000 at the end of the year and no bad debts were anticipated. also, the company owed the gas and electric company $2,900 at year-end, and the rent payment was for a two-year period.