Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Based on the following balance sheet and income statement, compute (a) the cash flow from assets , (b) cash flow to creditors , and (c)

Based on the following balance sheet and income statement, compute (a) the cash flow from assets, (b) cash flow to creditors, and (c) cash flow to stockholders. Please upload your work so you may get partial credit even if your answers are incorrect. Your work file can be in any format, such as scanned files, pictures of your hand-written work, Word documents, Excel spreadsheets.

(Hint: Your answer is negative.)

Ingersol Inc.
Income Statement
2014 2015
Sales $ 8,535 $ 9,109
Depreciation 1,195 1,196
COGS 2,766 3,130
other expenses 709 604
EBIT 3,865 4,179
Interest 595 673
Taxable Income 3,270 3,506
taxes 1,144.5 1,227.1
Net Income 2,125.5 2,278.9
Dividends 1,026 1,121
Add. To Retained Earnings 1,100 1,158
Balance Sheet
2014 2015
Cash 4,179 5,273
Accounts receivable 5,509 6,197
Inventory 9,740 10,008
Current Assets 19,428 21,478
Net fixed assets 35,155 36,117
Total Assets 54,583 57,595
Accounts payable 4,456 4,255
short-term notes payable 864 816
Current Liabilities 5,320 5,071
Long-term debt 14,230 16,750
Shareholders' equity 35,033 35,774
Total Liabilities & Equity 54,583 57,595

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

Study Guide With Working Papers, Chapters 1-9 For Heintz/Parrys College Accounting

Authors: James A. Heintz, Robert W. Parry

21st Edition

1285059379, 9781285059372

More Books

Students also viewed these Accounting questions

Question

Assess the requirements for strategic LMD

Answered: 1 week ago

Question

How can e-learning benefit organizations and individuals?

Answered: 1 week ago