Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assets Cash and marketable securities Accounts receivable Inventory Other current assets Total current assets Plant and equipment Less: Accumulated depreciation Net plant and equipment Goodwill

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Assets Cash and marketable securities Accounts receivable Inventory Other current assets Total current assets Plant and equipment Less: Accumulated depreciation Net plant and equipment Goodwill and other assets Total assets Liabilities and Equity Accounts payable and accruals Notes payable Accrued income taxes Total current liabilities Long-term debt Total liabilities Preferred stock Common stock (10,000 shares) Additional pald-in capital Retained earnings Less: Treasury stock Total common equity Total liabilities and equity 2017 $33,411 310,205 373,819 41,251 $758.686 1,931.719 (419,044) $1,512,675 382.145 $2,653,506 2017 $378,236 14.487 21.125 $413,848 604.981 $1.018,829 2016 $16,566 318.768 352.740 29,912 $717.986 1,609,898 (206,678) $1,403,220 412,565 $2.533.771 2016 $332,004 7,862 16,815 $356,681 793,515 $1,150, 196 10,000 975,465 398,110 10,000 975,465 662,546 (13.334) $1,634,677 $2,653.506 $1,383,575 $2.533.771 In addition, it was reported that the company had a net income of $2,655,848 and that depreciation expenses were equal to $212.366 during 2017. Assume amortization expense was $0 in 2017. Construct a 2017 cash flow statement for this firm. (if an amount reduces the cash flow then enter with negative sign preceding the number e.g. -45 or parentheses e.g. (45). Blossom Golf Company Statement of Cash Flows $ Additions (sources of cash) Subtractions (uses of cash) $ $ $ . $ $ $ 4 $ $ $ Decrease in Accrued Income Taxes Decrease in Goodwill and Other Assets Decrease in Property Equipment Purchase of Treasury Stock Increase in Inventories Sale of Treasury Stock Effect of Exchange Rates on Cash Increase in Accounts Receivable Increase in Notes Payable Decrease in Inventories Increase in Accrued Income Taxes Increase in Long-term Debt Decrease Accounts Payable Depreciation Payment of Cash Dividends Increase in Accounts Payable Net Income Decrease in Other Current Assets Increase in Goodwill and Other Assets Decrease in Accounts Receivable Increase in Property Equipment Decrease in Long-term Debt Increase in Other Current Assets Decrease in Notes Payable $ score

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

Financial Accounting

Authors: Pauline Weetman

8th Edition

129224447X, 9781292244471

More Books

Students also viewed these Accounting questions

Question

what is corporate espionage?

Answered: 1 week ago