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1. Using the Income Statements and Balance Sheets above, develop the company's 2007 Cash Flow Statement. INCOME STATEMENTS 2006 $16,200 10,445 $5,755 3,054 396 $2,305
1. Using the Income Statements and Balance Sheets above, develop the company's 2007 Cash Flow Statement.
INCOME STATEMENTS 2006 $16,200 10,445 $5,755 3,054 396 $2,305 2007 $17,450 11,956 $5,494 3,130 720 $1,644 2008 $16,500 11,950 $4,550 3.379 756 $415 Net Sales Cost of Goods Sold Gross Profit Selling and Administration Depreciation Operating Income Other Income Interest Income Other Expense Interest Expense Income Before Taxes Income Taxes Net income 21 10 2 246 $2,080 624 $1,456 291 $1.363 409 $954 407 $10 3 $7 Exhibit 2 BALANCE SHEETS 2006 2007 2008 $234 1,034 3,250 1,025 200 2,030 182 $7,955 $122 488 3,450 1,350 138 1.700 143 $7,391 $61 99 2,854 1,395 42 1,200 188 $5,839 Current Assets Cash Temporary Investment Accounts Receivable, Net Raw Materials Inventory WIP Inventory Finished Goods Inventory Prepaid Expenses Total Current Assets Fixed Assets Land, Plant, and Equipment Less: Accumulative Depreciation Net Land, Plant, Equipment Total Assets Current Liabilities Accounts Payable Income Taxes Payable Current Portion of Long-term Debt Total Current Liabilities Long-term Liabilities Shareholders' Equity Common Shares Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity $4,893 1,380 3,513 $11,468 $7,076 2,100 4,976 $12,367 9,590 2,856 6,734 $12,573 S534 54 1,000 $1,588 3,190 $543 35 1,145 $1,723 3,500 500 23 1,340 $1,863 4,059 1,350 5,340 $6,690 $11,468 1,350 5,794 $7,144 $12,367 1,350 5,301 $6,651 $12,573Step by Step Solution
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