The Limpid Pool Company reports net income of $25 million for 2000. Balance sheets at the beginning
Question:
The Limpid Pool Company reports net income of $25 million for 2000. Balance sheets at the beginning and end of the year are shown below.
December 31 1999 2000
(Dollars in millions)
Cash $ 50 $ 70 Other current assets 80 145 Property, plant, and equipment (net) 170 135 Total assets $300 $350 Current liabilities $20 $15 Noncurrent liabilities 180 195 Common stock 80 110 Retained earnings 20 30 Total liabilities and shareholders’ equity $300 $350 The firm did not acquire any noncurrent assets during 2000.
Required Determine the following amounts for 2000:
a. Dividends paid
b. Cash flow from operating activities
c. Cash flow from investing activities
d. Cash flow from financing activities
Step by Step Answer:
Financial Accounting Reporting And Analysis
ISBN: 9780324149999
6th Edition
Authors: Earl K. Stice, James Stice, Michael Diamond, James D. Stice