Question
AuroraAurora Health Foods, Inc., reported the following comparative balance sheets for 20182018 and 20172017 and the income statement for 20182018: LOADING... (Click the icon to
AuroraAurora
Health Foods, Inc., reported the following comparative balance sheets for
20182018
and
20172017
and the income statement for
20182018:
LOADING...
(Click the icon to view the balance sheets.)
LOADING...
(Click the icon to view the income statement.)Assume that
Carlisle EckleyCarlisle Eckley
is considering buying
AuroraAurora.
Carlisle EckleyCarlisle Eckley
requests the following cash flow data for
20182018.
There were no noncash investing and financing activities.
LOADING...
(Click the icon to view the cash flow data requested.)
Provide the requested data. Show your work.
a. Collections from customers.
Rework the basic accounts receivable formula to solve for collections. Begin by selecting the formula. Then, enter the amounts to solve for collections from customers. (Abbreviation used: AR = accounts receivable)
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| + |
| - |
| = | Collections |
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| + |
| - |
| = |
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b. Cash payments for inventory.
Rework the basic accounts payable formula to solve for cash payments of inventory. Begin by selecting the formula. Then, enter the amounts to solve for cash payments for inventory. (Abbreviation used: AP = Accounts payable)
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| + |
| - |
| = | Payments for inventory |
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| + |
| - |
| = |
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c. Cash payments for other operating expenses.
Select the formula. Then, enter the amounts to solve for other operating expenses.
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| Payments for other |
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| - |
| + |
| = | operating expenses |
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| + |
| = |
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d. Cash payment for income tax. (Abbreviations used: Beg inc tax payable = Beginning income tax payable; End inc tax payable = Ending income tax payable)
Select the formula. Then, enter the amounts to solve for payments of income tax.
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| + |
| - |
| = | Payments of income tax |
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| - |
| = |
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e. Cash received from the sale of equipment.
AuroraAurora
paid
$ 35 comma 000$35,000
for new equipment during the year.
Complete the calculation of cash received from the sale of equipment. Select the formula. Then, enter the amounts to solve for cash received from the sale of equipment.
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| = | Cash received from sale |
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| = |
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f. Issuance of common stock.
Select the formula. Then, enter the amounts to solve for the issuance of common stock.
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| - |
| = | Issuance of common stock |
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| = |
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g. Issuance of notes payable.
AuroraAurora
paid off
$ 19 comma 000$19,000
during the year. (Abbreviations used: Beg = Beginning; End = Ending)
Rework the basic notes payable formula to solve for the issuance of notes payable. Select the formula. Then, enter the amounts to solve for the issuance of notes payable.
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| + |
| - |
| = | Issuance of notes payable |
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| + |
| - |
| = |
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h. Cash dividends. There were no stock dividends. (Abbreviations used: Beg = Beginning; End = Ending)
Rework the basic retained earnings formula to solve for dividends. Select the formula. Then, enter the amounts to solve for dividends.
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| + |
| - |
| = | Dividends |
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| + |
| - |
| = |
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Choose from any list or enter any number in the input fields and then continue to the next question.
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