Haywire Systems had the following cash receipts and payments during 2000 (dollars in millions): 1. Cash received
Question:
Haywire Systems had the following cash receipts and payments during 2000
(dollars in millions):
1. Cash received from customers $130 2. Cash paid to inventory suppliers 42 3. Cash paid to employees as wages 38 4. Paid income taxes 31 5. Cash paid for other operating expenses 17 6. Cash dividends paid to shareholders 10 7. Cash paid to acquire equipment and vehicles 75 8. Cash paid to retire bank loans 25 9. Cash received from sale of land 8 10. Cash received by a company issuing common stock 85 Required Based on the above information, using the direct method:
a. Determine cash flow from operations.
b. Determine cash flow from investments.
c. Determine cash flow from financing.
d. Calculate Haywire’s net income for 2000.If this is not possible,identify additional information that would be needed to determine net income?
Step by Step Answer:
Financial Accounting Reporting And Analysis
ISBN: 9780324149999
6th Edition
Authors: Earl K. Stice, James Stice, Michael Diamond, James D. Stice