1 Week One Problem 14 1 Complete the Changes column by subtracting 2016 from 2017 results (example Cash 76700-47500) 2 Prepare a cash flow statement for Whistler Corp. for fiscal year 2017 NOTE: The parenthesis (below indicate whether to enter a number as positive or negative. For example, if there was an increase in receivables, then that number would be entered as negative. Or if there was a decrease in inventories, then that number would be entered as positive. 5 WHISTLER CORP. BALANCE SHEET WHISTLER CORP. 2016 2017 Changes CASH FLOW STATEMENT Clear All Operating Activities 10 49,000 Net Income Cash Accounts receivable Inventories Total current assets Land Buildings Equipment Patents Less: Accumulated depreciation Total assets $47,500 $76,700 0 43,100 36,500 96,500 156,300 15,800 15,800 103,600 164,600 63,200 65,500 5,200 5,200 10,800 12,200 273,500 395,200 Add Back Depreciation Expense 14 (Increase) decrease in receivables uuu (Increase) decrease in inventories 17 18 19 Increase (decrease) in accounts payable Increase (decrease) in income taxes payable 48,000 25,900 0 10,700 48,000 36,600 100,100 134,000 148,100 170.600 Cash Flow from Operations Cell will turn green on correct value Accounts payable to suppliers Income taxes payable Total current liabilities Long term debt Total liabilities Shareholders' equity Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity Investing Activities 125,400 177,400 U 47,200 125,400 224,600 273,500 395,200 27 (Increase) decrease in buildings WHISTLER CORP. INCOME STATEMENT (Increase) decrease in equipment 31 32 33 34 2017 165,300 46,200 Cash Flow from Investing Cell will turn green on correct value 35 1,400 Financing Activities Sales Cost of goods sold Depreciation expense Net interest expense Other expense Income before taxes Provision for income taxes Net income 2,000 Increase (decrease) in long-term debt ##### 38 5,600 110.100 40,900 69,200 Increase (decrease) in common stock ##### 39 40 Subtract dividends paid ##### || 41 42 43 44 Dividends paid Addition to retained earnings 22,000 47,200 Cash Flow from Financing ##### Cell will turn green on correct value 43 Net change in cash Beginning cash balance 2017 Ending cash balance 2017 ##### ##### ##### 47 48 50 51