The financial statements of Martinez Enterprises follow: Additional Information: 1. No property, plant, and equipment was sold
Question:
The financial statements of Martinez Enterprises follow:
Additional Information:1. No property, plant, and equipment was sold during the year.2. Amortization of intangibles was $139.3 (million) for the year.
Required:
A. Prepare the operating section of the statement of cash flows using the direct method.B. Prepare the statement of cash flows using the indirect method.C. Discuss the relative benefits of the direct method.
Transcribed Image Text:
MARTINEZ ENTERPRISES Balance Sheet December 31, 2019, and 2018 (in millions) Cash and cash equivalents Short-term investments Accounts and notes receivable, net Inventories Prepaid expenses Property, plant, and equipment, net Intangibles, net Total assets Accounts payable Interest payable Short-term borrowings Income taxes payable Accrued marketing expense Other current liabilities Long-term debt Capital stock at par Capital in excess of par value Retained earnings Treasury stock Total liabilities and shareholders' equity 2019 $330.7 1,157.4 2,050.9 2018 $ 226.9 1,573.8 1,883.4 970.0 563.2 9,882.8 9,837.0 9.741.6 $24.792.0 $23.705.8 $1,451.6 $1,390.0 753-5 678.5 671.7 546.2 1,168.9 12,665.5 924.7 499.8 8,855.6 726.0 2,191.2 823.7 400.9 1,043.1 10,608.3 14.4 934.4 7,268.5 (1,361.2) $24.792.0 $23.705.8 13.4 879.5 6,541.9 (912.2)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (8 reviews)
A Operating section of the statement of cash flows using the direct method Amount in millions Cash ...View the full answer
Answered By
Akash M Rathod
I have been utilized by educators and students alike to provide individualized assistance with everything from grammar and vocabulary to complex problem-solving in various academic subjects. I can provide explanations, examples, and practice exercises tailored to each student's individual needs, helping them to grasp difficult concepts and improve their skills.
My tutoring sessions are interactive and engaging, utilizing a variety of tools and resources to keep learners motivated and focused. Whether a student needs help with homework, test preparation, or simply wants to improve their skills in a particular subject area, I am equipped to provide the support and guidance they need to succeed.
0.00
0 Reviews
10+ Question Solved
Related Book For
Introduction To AccountingAn Integrated Approach
ISBN: 9781119600107
8th Edition
Authors: Penne Ainsworth, Dan Deines
Question Posted:
Students also viewed these Business questions
-
China Petroleum and Chemical Corporation China Petroleum and Chemical Corporation (CPCC) is one of a growing number of Chinese companies that has cross-listed its stock on foreign stock exchanges. To...
-
The following are the financial statements of Post Corporation and its subsidiary, Sage Company, as at December 31, Year 3: Additional Information ¢ Post purchased 70% of the outstanding shares...
-
The financial statements of Royce pic have been prepared as follows: a. Extract from statement of income...
-
Figure shows three rotating, uniform disks that are coupled by belts. One belt runs around the rims of disks A and C. Another belt runs around a central hub on disk A and the rim of disk B. The belts...
-
Table calculates the risk premiums on stocks and bonds relative to T-bills by taking the difference in average nominal total returns on each asset class. Would these risk premiums be much different...
-
List the basic facilities and equipment needed in establishing an FBO. LO1
-
What is the optimum mix of debt and equity?
-
A foundation promises to donate $1 million to a local public broad casting station (a not-for-prot organization) in one year. When, and in what amount, should the station recognize revenue? The...
-
Assume that management of SeaTech, Inc., desires to maintain a minimum cash balance of $19,200 at the beginning of each month and has arranged a $100,000 line of credit with a local bank at an...
-
You are interested in opening a new bakery in town. You are considering locations, and combinations of inputs to determine whether you should open, if you would be successful, and where you should...
-
Refer to an annual report of your choice and answer the following questions: A. Is this statement prepared on the direct or indirect basis? How can you tell? B. Are net cash flows from operating...
-
What does accumulated other comprehensive income (loss) represent on the balance sheet, and how is it different from comprehensive income?
-
The Committee on Basic Auditing Concepts has provided a widely cited definition of auditing. What does the phrase systematic process mean in this definition?
-
The table 1 below is shown the production theory of labour for company D'LIMAU Sdn Bhd. Input X Input Y Total Product (TP/Q) 1 0 0 1 1 20 1 2 80 1 3 180 1 4 230 1 5 270 1 6 270 1 7 210 Average...
-
Describe the most important three rights in the Bill of Rights of the United States Constitution. The Bill of Rights is the first ten amendments to the Constitution, but they contain far more than...
-
A red/white wine-tasting party will be held in the school in April, and the theme of the event will be formulated based on the season (April), place (Ontario/Canada), and target participants. Please...
-
We explored many of the revenue streams available to fund fire prevention practices. Describe one revenue stream and explain why you feel it is the most important in supporting fire prevention...
-
Multi-national management in a global economy requires a variety of hard and soft skills. This assignment is meant to enhance the understanding of multi-national situations locally or globally, and...
-
What is the problem that might arise if the Fed keeps the interest rate too low for too long? Despite U.S. job creation exceeding forecasts in July, experts believe that with weak output growth, the...
-
Maria Castigliani is head of the purchasing department of Ambrosiana Merceti, a medium-sized construction company. One morning she walked into the office and said, The main problem in this office is...
-
During 2017, Julio attended school for much of the year but was supported by his parents. Julio married Jillian in December 2017. Julio graduated and began working full-time in 2018. Jillian worked...
-
Lopez Company expects to incur $600,000 in overhead costs this coming year$100,000 in the Cutting department, $300,000 in the Assembly department, and $200,000 in the Finishing department. Direct...
-
Lopez Company expects to incur $600,000 in overhead costs this coming year$100,000 in the Cutting department, $300,000 in the Assembly department, and $200,000 in the Finishing department. Direct...
-
Jen bought 100 shares of ABC stock at $15 a share on July 14, 2017. On August 7, 2018, she noticed that the stock had increased in value to $20 a share and decided to sell her shares. Jen's marginal...
-
Alex. Inci, buys 40 petcent of Steinbart Company on January 1, 2020, for $1.212.000. The equity method of accounting is to be used. Steinbart's net assets on that datewere $2.90 million. Any excess...
-
exercise 4-7 (Algo) Effects of transactions on income statement LO P2
Study smarter with the SolutionInn App