Please help with Cash flow statement problem!?
Please help me if you have time. i have most of my project done, I just don't know what is correct and would like something to check my work
Income Statement
For Month Ended January 31, 2013
Sales $130,500
Less: Sales Discount $800
Sales Returns and Allowances $2,000 $2,800
Net Sales $127,700
Cost of Goods Sold $76,000
Gross Profit $51,700
Operating Expenses
Selling Expenses
Depreciation Expense: Store Equipment $1,500
Supplies Expense $1,000
Salaries Expense: Sales Force $8,000
Payroll Tax Expense: Sales Force $720
Utilities Expense: Store $1,100
Repairs Expense: Store $800
Total Selling Expenses $13,320
General and Administrative Expenses
Depreciation Expense: Building $1,250
Depreciation Expense: Office Equipment $5,000
Salaries Expense: Office $12,000
Payroll Tax Expense: Office $1,080
Insurance Expense $400
Repairs Expense: Office $2,500
Utilities Expense: Office $1,500
Amortization Expense: Patents $1,400
Delivery Expense $1,000
Total General and Administrative Expenses $26,130
Total Operating Expenses $39,450
Non-Operating Expenses
Interest Expenses $8,050
Total Non-Operating Expenses $8,050
Other Income
Interest Revenue $180
Total Other Income $180
Net Income $4,380
Balance sheet
ASSETS
Current Assets
Cash $642,375
Accounts Receivable $10,000
Interest Receivable $180
Note Receivable $30,000
Merchandise Inventory $113,500
Store Supplies $7,000
Office Supplies $1,800
Prepaid Insurance $5,600
Total Current Assets $810,455
Property, Plant, and Equipment
Land $468,500
Building $800,000
Office Equipment $180,000
Store Equipment $200,000
Less: Accumulated Depreciation: Building $(91,250)
Accumulated Depreciation: Office Equipment $(35,000)
Accumulated Depreciation: Store Equipment $(31,500)
Property, Plant, and Equipment Net $1,490,750
Intangible Assets
Patents $138,600
Total Intangible Assets $138,600
Total Assets $2,439,805
LIABILITIES AND STOCKHOLDER'S EQUITY
Current Liabilities
Accounts Payable $45,000
Interest Payable $6,950
Income Tax Payable $25,000
Total Current Liabilities $76,950
Long-Term Liabilities
Notes Payable $200,000
Bonds Payable $1,000,000
Less: Discount on Bonds Payable $(23,900)
Long-Term Liabilities Net $1,176,100
Total Liabilities $1,253,050
Stockholder's Equity
Common Stock, $.50 par value, 1,000,000 authorized; $105,000
210,000 shares issued and outstanding
APIC: Common Stock $685,000
Preferred Stock, $100 par value, 4,000 authorized, issued, $400,000
and outstanding
APIC: Preferred Stock $15,500
APIC: T-Stock $15,000
Less: Treasury Stock $(85,000)
Retained Earnings $51,255
Total Stockholder's Equity $1,186,755
Total Liabilities and Stockholder's Equity $2,439,805
additional information
1. Common stock dividends paid: $50,000
2. Preferred Dividends: $28,125
3. Mortgage payable of $400,000 paid off using portions of sale of bonds
4. $1,000,000 bonds payable issued at 97.6
5. 10,000 shares common stock par value $.50 sold at $9 per share issued in exchange for land
6. 10,000 treasury stock reissued at $10 per share
7. Purchased more Land, $50,000 cash $200,000 long term note payable