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Below are the balance sheets and income statements for Northern Comfort Company for December 31 of 2020 and 2021. What was the cash flow from
Below are the balance sheets and income statements for Northern Comfort Company for December 31 of 2020 and 2021. What was the cash flow from operating activities in 2021? 2020 2021 2020 2021 Cash 850 1,000 Accounts payable 2,550 3,000 Accounts receivable 2,550 3,000 Current liabilities 2,550 3,000 Inventory 2,550 3,000 Long-term debt 5,100 6,000 Current assets 5,950 7,000 Total liabilities 7,650 9,000 Net fixed assets 11,050 13,000 Equity 9,350 11,000 Total assets 17,000 20,000 Total liab. & equity 17,000 20,000 2020 2021 Sales 38,500 48,000 Cost 20,000 26,400 Depreciation 5,000 7,200 EBIT 13,500 14,400 Interest 4,000 4,800 Taxes (33%) 3,135 3,168 Net income 6,365 6,432
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