Question
A companys 2021 and 2022 simplified balance sheets (in thousands of dollars) are shown in the table below 2022 2021 Cash and cash equivalents $102,850
A companys 2021 and 2022 simplified balance sheets (in thousands of dollars) are shown in the table below
2022 | 2021 | |
Cash and cash equivalents | $102,850 | $89,725 |
Accounts Receivable | 103,365 | 85,527 |
Inventories | 38,444 | 34,982 |
Total Current Assets | $244,659 | $210,234 |
Net Property plant and equipment (net fixed assets) | 67,165 | 42,436 |
Total Assets | $311,824 | $252,670 |
Accounts Payable | $30,761 | 23,109 |
Accruals | 30,477 | 22,656 |
Notes Payable | 16,717 | 14,217 |
Total Current liabilities | $77,955 | $59,982 |
Long term debt | 76,264 | 63,914 |
Total long term liabilities | $76,264 | $63,914 |
Common stock | 100,000 | 90,000 |
Retained earnings | 57,605 | 38,774 |
Total stockholders equity | $157,605 | $128,774 |
Total liabilities and equity | $311,824 | $252,670 |
Additional Information for 2022
Sales for 2022 were $455,150,000
EBITDA was 15% of sales.
Depreciation (and amortization) were 11% of net fixed assets
Interest expense was $8,575,000
Corporate tax rate was 40%
The company pays 40% of net income out as dividends.
Questions:
Construct the Income Statement for 2022
Construct the Statement of Cash Flows for 2022.
Show that the increase in retained earnings in the balance sheet is consistent with your answer from part a) Show that the increase in cash in the first line of the balance sheet is consistent with your answer to part b).
Calculate the (net) working capital for 2021 and 2022.
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