Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

13. Below is the balance sheet for Northern Comfort Company for December 31 of 2018 and 2019. 2018 2019 2018 2019 Cash 950 1,000 Accounts

image text in transcribed

13. Below is the balance sheet for Northern Comfort Company for December 31 of 2018 and 2019. 2018 2019 2018 2019 Cash 950 1,000 Accounts payable 2,850 3,000 Accounts receivable 2,850 3,000 Current liabilities 2,850 3,000 Inventory 2,850 3,000 Long-term debt 5,700 6,000 Current assets 6,650 7,000 Total liabilities 8,550 9,000 Net fixed assets 12,350 13,000 Equity 10,450 11,000 Total assets 19,000 20,000 Total liab. & equity 19,000 20,000 The income statement for 2019 is also given: Amount Sales 48,000 Cost 26,400 Depreciation 4,800 EBIT 16,800 Interest 4,800 Taxes 3,000 Net income 9,000 The company paid $8,450 in dividends to shareholders at the end of the year. a. What was the cash flow from operating activities? b. What was the cash flow from long-term investing activities? c. What was the cash flow from financing activities? d. What was the net cash flow for the year

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Modern Hospital

Authors: B. J Hall

1st Edition

0130516724, 978-0130516725

More Books

Students also viewed these Accounting questions