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Below is the balance sheet for Southern Comfort Company for December 31 of 2015 and 2016. The income statement for 2016 is also given. Find
Below is the balance sheet for Southern Comfort Company for December 31 of 2015 and 2016. The income statement for 2016 is also given. Find the following:
1. What was cash flow from assets in 2016?
2. What was the cash flow to creditors in 2016?
3. What was the cash flow to stockholders in 2016?
Intro Below is the balance sheet for Southern Comfort Company for December 31 of 2015 and 2016. 2015 2016 Cash 900 1,000 Accounts receivable 2,700 3,000 Inventory 2,700 3,000 Current assets 6,300 7,000 Net fixed assets 11,700 13,000 Total assets 18,000 20,000 2015 2016 Accounts payable 2,700 3,000 Current liabilities 2,700 3,000 Long-term debt 5,400 6,000 Total liabilities 8,100 9,000 Equity 9,900 11,000 Total liab. & equity 18,000 20,000 The income statement for 2016 is also given: Sales Cost Depreciation EBIT Interest Taxes Net income Dividends Amount 48,000 26,400 7,200 14,400 4,800 2,400 7,200 6,480
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