Selected information for Blakes Restaurant Supply follows. ($ millions) 2020 2021 Net sales 694 782 Cost of
Question:
Selected information for Blake’s Restaurant Supply follows.
($ millions)
2020 2021 Net sales 694 782 Cost of goods sold 450 502 Depreciation 51 61 Net income 130 142 Finished goods inventory 39 29 Accounts receivable 57 87 Accounts payable 39 44 Net fixed assets 404 482 Year-end cash balance 86 135
a. During 2021, how much cash did Blake’s collect from sales?
b. During 2021, what was the cost of goods produced by the company?
c. Assuming the company neither sold nor salvaged any assets during the year, what were the company’s capital expenditures during 2021?
d. Assuming there were no financing cash flows during 2021 and basing your answer solely on the information provided, what was Blake’s cash flow from operations in 2021? LO.1
Step by Step Answer:
Analysis For Financial Management
ISBN: 9781260772364
13th Edition
Authors: Robert Higgins, Jennifer Koski, Todd Mitton