Question
ABC Corporation Comparative Balance Sheets at December 31 (in millions) Assets 20X1 20X2 Liab. & Shareholders Equity 20X1 20X2 Cash $8 $6 Notes payable $15
ABC Corporation Comparative Balance Sheets at December 31 (in millions) | |||||||
Assets | 20X1 | 20X2 |
| Liab. & Shareholders Equity | 20X1 | 20X2 | |
Cash | $8 | $6 |
| Notes payable | $15 | $10 | |
Accounts receivable | 16 | 22 |
| Accounts payable | 6 | 12 | |
Inventories | 15 | 16 |
| Accrued wages | 4 | 6 | |
Total current assets | 39 | 44 |
| Accrued taxes | 3 | 5 | |
Fixed assets, net | 53 | 54 |
| Total current liabilities | 28 | 33 | |
Other assets | 3 | 5 |
| Long-term debt | 12 | 8 | |
|
|
|
| Common stock | 15 | 18 | |
|
|
|
| Retained earnings | 40 | 44 | |
Total assets | $95 | $103 |
| Total Liab. & equity | $95 | $103 | |
ABC Corporation Statement of Income and Retained Earnings Year ended December 31, 20X2 (in millions) | ||
Net sales |
| $75 |
Expenses |
|
|
Cost of goods sold | $35 |
|
SG&A expenses | 7 |
|
Depreciation | 12 |
|
Interest | 3 | 57 |
Net income before taxes |
| $18 |
Less: Taxes |
| 6 |
Net income |
| $12 |
Add: Retained earnings at 12/31/20X1 |
| 40 |
Subtotal |
| $52 |
Less: Dividends |
| 8 |
Retained earnings at 12/31/20X2 |
| $44 |
In the sources and uses of funds statement, how much is the change in fixed asset?
In the statement of cash flows, what is the cash flow under financing activities?
In the sources and uses of funds statement, which one of the following is NOT a use of fund?
In the statement of cash flows, which one of the following is NOT a financing activity?
In the statement of cash flows, how much is the tax paid?
In the statement of cash flows, what is the cash flow under operating activities?
In the sources and uses of funds statement, which one of the following is NOT a source of fund?
In the statement of cash flows, what is the cash flow under investing activities?
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